21Shares has launched an ETP based on Toncoin staking
ETF provider 21Shares has announced the launch of an exchange-traded fund based on TON. It allows investors to receive rewards from staking without the need to launch a validator.
21Shares has launched an exchange-traded product (ETP) based on Toncoin (TON). It tracks fluctuations in the asset's exchange rate and reinvests profits in coin staking.
21Shares Toncoin Betting ETP is traded on the Swiss exchange SIX under the ticker TONN. The company described the fund as follows:
"This groundbreaking product provides investors with a convenient way to participate in the staking ecosystem and receive rewards easily."
According to the official website, $25 million has already been invested in the product. The fee for managing funds is 2.5% per annum.
The projected volume of assets under management at the launch stage is $40 million. This was stated by the CEO of the company, Hani Rashwan, in a comment to The Block. He predicts high demand for the product.
Source: https://incrypted.com/21shares-zapustyla-etp-na-baze-stejkynga-toncoin/
