21Shares, a company that develops exchange-traded products, has introduced a Toncoin staking ETP. This happens as Toncoin reaches its highest value ever, driven by its integration into Telegram.
Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

Named TONN, the ETP is now available on the SIX Swiss Exchange, joining 21Shares’ existing lineup of crypto products. TONN mirrors Toncoin’s performance and automatically reinvests staking rewards into the ETP, according to 21Shares’ announcement on Wednesday.
 
Introducing TONN: Streamlined Staking Rewards with 21Shares
Investors seeking hassle-free access to staking rewards can now turn to TONN, the newly introduced exchange-traded product (ETP) by 21Shares. This innovative offering eliminates the complexities associated with setting up or managing staking nodes, providing a convenient avenue for earning rewards from Toncoin staking.
While TONN presents a streamlined approach to staking rewards, investors should remain mindful of associated fees charged by 21Shares for its products. Despite this, there is significant demand for the ETP, with an anticipated $40 million in assets under management at its launch, according to Rashwan, a representative from 21Shares. He highlighted the company’s dedication to meeting customer demands by continuously exploring new product opportunities and assessing market trends.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

Toncoin, the native token of The Open Network (TON), has emerged as a prominent player in the crypto space. Initially developed for the proof-of-stake blockchain formerly known as Telegram Open Network, Toncoin plays a pivotal role in the network’s ecosystem, offering investors opportunities for staking rewards and participation in its decentralized infrastructure.
Navigating the TON Blockchain’s Turbulent Journey
The TON blockchain encountered a significant obstacle in 2020 when Telegram, the messaging app giant spearheading the project, halted its development. This decision followed a legal dispute with the U.S. Securities and Exchange Commission (SEC), which accused Telegram of violating securities laws by failing to register its token, previously known as “gram,” with the regulator. As a result, Telegram was compelled to reimburse the $1.7 billion raised from investors in 2018 for the blockchain venture.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

Despite these setbacks and Telegram’s departure from the project, Toncoin remained resilient, achieving an all-time high of $5.69 this week. Notably, Telegram reaffirmed its commitment to the TON blockchain in the previous year, endorsing it as the preferred platform for web3 infrastructure. This endorsement culminated in Telegram’s official integration of TON earlier this month, enabling revenue sharing with channel owners and facilitating reward payments using Toncoin.
Also Read:   Shiba Inu Sees 825% Surge in Shibarium Metric
Following Telegram’s exit, the management of the TON blockchain was assumed by the TON Foundation, a nonprofit organization comprising dedicated contributors committed to advancing the project’s objectives.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

21Shares: Shaping the Digital Asset Landscape
Meanwhile, 21Shares, a prominent asset manager, has been actively engaged in the cryptocurrency space, offering over 40 exchange-traded products (ETPs) across more than ten exchanges. With approximately $7 billion in assets under management as of March 26, 21Shares continues to play a significant role in shaping the landscape of digital asset investments.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol

#TON  #Bitcoin  #Altcoin  #21Shares  #ETP  

Switzerland-based asset management firm 21Shares has announced that it will stop offering six cryptocurrency ETPs (Exchange Traded Products) on March 17th, citing low demand for these products compared to other ETPs.

The six products that will be suspended include 21Shares Crypto Layer 1 ETP, 21Shares Crypto Layer 1 ETP, 21Shares S&P Risk Controlled Bitcoin Index ETP, 21Shares S&P Risk Controlled Ethereum Index ETP, 21Shares USD Yield ETP, and 21Shares Terra Classic ETP. The first five are set to close on April 6th, and the last on June 12th.

Although the combined assets under management for these six products have not reached $700,000, 21Shares reported that January 2023 was the second-best January in the company’s history. With $1.1 billion in assets under management as of March 15th, 21Shares has launched multiple altcoin-linked ETPs in Europe, including Bitcoin and Ethereum.

ETPs are a general term for financial products such as Exchange Traded Funds (ETF), Exchange Traded Securities (ETN), Commodity Exchange Traded Trusts (ETC), and other similar products. In recent years, various cryptocurrency ETPs have become available for trading in Europe. Besides Bitcoin and Ethereum, Cardano (ADA), XRP (Ripple), Solana (SOL), and Polkadot (DOT) ETPs are also listed on German and Swiss stock exchanges.

The decision to suspend these six ETPs may be due to a variety of factors, including lack of investor interest, regulatory concerns, and competition from other similar products. However, this move is unlikely to have a significant impact on the cryptocurrency market, as 21Shares still has a substantial presence in the industry and offers multiple other cryptocurrency-linked ETPs.

In conclusion, 21Shares’ decision to suspend six cryptocurrency ETPs due to low demand is a reminder that not all financial products related to cryptocurrencies are equally popular or successful. However, the company’s overall presence in the cryptocurrency market remains strong, and investors can still choose from a wide range of ETPs linked to various cryptocurrencies.

#bitcoin #21Shares #BTC #azcoinnews #ETP

This article was republished from azcoinnews.com

Legal expert James Murphy, aka MetaLawMan, recently spoke about the status of the $XRP
Trust and its implications for the #cryptocurrencymarket , especially in regards to the regulatory challenges posed by the SEC.

In an interview with Thinking Crypto, when asked if an SEC appeal could prevent these approvals, James expressed concern that the SEC could use the current uncertainty as a reason to reject the XRP #ETP (Exchange-Traded Product). He said that for an ETF to be approved, the asset must qualify as a commodity, which complicates the situation for #Xrp🔥🔥 . James believes the SEC may feel pressured to reject these products, citing that there is still uncertainty in the market. He suggested that the SEC could delay the process, possibly triggering further legal challenges similar to past #Bitcoin❗ scenarios.

James indicated that a change in SEC leadership could lead to a more favorable environment for cryptocurrency-related products. He cited recent hearings where commissioners seemed open to Congress updating legislation, contrasting this with evasive responses from SEC Chairman #GaryGensler .

The concept of “fair notice” was emphasized during the hearing, explaining the need for clear rules in regulatory practices. James emphasized that a transparent legal framework is essential for compliance, arguing that current ambiguity undermines the rule of law.