CoinShares Bet on Toncoin Despite Plummeting Market Cap: Will It Pay Off?

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CoinShares rolls out Toncoin ETP on SIX Exchange, even as Toncoin’s market cap tumbles below $6B in 2023, down a whopping 59%. 🧐

Well, well, well, look who’s back in the game-CoinShares! This European crypto giant just launched a shiny new exchange-traded product (ETP) for Toncoin. Mind you, they’ve made this move despite Toncoin’s dramatic nosedive, dropping close to 60% this year. Who wouldn’t want to dive headfirst into a market slump, right? 🙄

The new ETP is here to give investors a taste of Toncoin, while offering a side of staking rewards. Because, why not? If you’re going to bet on a sinking ship, you might as well get some perks for the trouble. 🏴‍☠️

CoinShares Launches Toncoin ETP in the Midst of Market Chaos

Hold onto your hats, folks! CoinShares has just introduced CoinShares Physical Staked Toncoin (CTON), an ETP trading on the SIX Swiss Exchange. This delightful new financial instrument gives investors the opportunity to play with Toncoin and grab some staking rewards along the way. It’s almost like getting a free candy bar while your stock portfolio burns. 🍬🔥

As a bonus, the ETP promises a 2% yield generated from network validation rewards. That’s right, folks-staking rewards, because who doesn’t love a little extra change when everything else seems to be falling apart? 💸

Toncoin is the native asset of The Open Network (TON), closely tied to Telegram. But, despite all the techy goodness, the token has seen its market cap drop like a rock. From a high-flying hero to a sad little $5.7 billion token-ouch. 📉

Trade U.S. Stocks in Crypto Wallet

Starting today, users can trade tokenized shares of major U.S. companies-Amazon, Netflix, Coca-Cola, Nvidia, Tesla, and even the S&P 500 ETFs. And don’t worry, it’s open all week, Monday through Friday! Just don’t expect miracles. 🤷‍♂️

– Wallet in Telegram (@wallet_tg)

As for the Toncoin ETP, CoinShares is staying optimistic-well, as optimistic as you can be when your flagship token is sinking like the Titanic. But hey, it’s got Telegram behind it, so maybe that’s the life raft they’re counting on? 🚢🤞

Toncoin’s Struggles: The Market Doesn’t Look Too Hopeful

Toncoin’s market cap is currently sitting at a comfy $5.7 billion, which sounds better than it actually is when you factor in the massive 59% drop this year. When we checked, Toncoin was worth a measly $2.30. If you’re wondering if that’s a good deal, well, that depends on how you feel about jumping into a flaming dumpster fire. 🔥🚮

Despite its struggles, Toncoin has one hell of a blockchain. It can handle over 100,000 transactions per second-take that, Bitcoin! But the market isn’t too keen on all that technical wizardry right now. 📊

As the token flounders, people are wondering: Can it rise from the ashes? Well, Telegram’s massive user base might give Toncoin the push it needs, but don’t hold your breath. For now, the market’s waiting with bated breath and crossed fingers. 🤞😶

Toncoin’s performance did see a slight uptick-a whopping 5%-following the announcement of the ETP. Still, the overall mood in the market is like that of a party where everyone is texting “I’m on my way” and never actually shows up. 🎉📉

CoinShares Expands Its Crypto Portfolio (For Better or Worse)

CoinShares isn’t just stopping at Toncoin. Oh no, they’ve got big plans to bring you more ways to lose your crypto. Alongside the Toncoin ETP, they’ve launched the CoinShares Altcoins ETF (DIME) in the U.S., covering altcoins like Solana, Polkadot, and Cardano. It’s like they’re trying to get you to bet on the horse that’s already fallen down and can’t get back up. 🐎💥

With these new products, CoinShares is aiming to expand its reach and cater to everyone-retail investors, institutional clients, and even the crypto curious who want to dip their toes into the market. Because, hey, why not? More chances to lose it all, right? 🙃

Even though Toncoin is floundering, CoinShares is banking on the long-term potential of the token. The launch of these ETPs is a reminder that institutional interest in crypto is still very much alive-so expect more products, more chaos, and possibly more losses in the future. Cheers to that! 🥂💰

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2025-10-30 02:13