21Shares has introduced an exchange-traded product centered around Toncoin, designed to track asset price fluctuations and reinvest profits into staking activities.

As per today's press release, the 21Shares Toncoin Staking ETP is now listed on the SIX Swiss Exchange under the ticker symbol TONN. The company describes the fund as an innovative offering that provides investors with a convenient avenue to participate in the staking ecosystem and swiftly receive rewards.

"Investors can now reap the benefits of staking Toncoin while leveraging the liquidity and convenience of traditional financial markets," stated the 21Shares press release.

According to the official website, the product has already attracted $25 million in investments, with a management fee of 2.5% per annum.

Toncoin (TON) exhibited a minor reaction to this announcement. As of the time of writing, the asset is trading at $4.96, experiencing a decline of nearly 2.4% over the past 24 hours. Nonetheless, its overall trend shows consistent growth over the past seven days and month, with price increases of 19% and 126%, respectively.

Toncoin has maintained positive momentum since February, marked by a series of initiatives. The most recent endeavor involved distributing 30 million TON for user participation in ecosystem projects, aimed at expanding the TON user base, according to developers.

In early March, Binance launched perpetual futures contracts on Toncoin with leverage up to 50x. These contracts also support a "multi-asset" mode, enabling margin trading with various cryptocurrencies.