Telegram’s token has been on a major ascent. And now, it has its very own Exchange Traded Product.
What’s happening:
- DeFi Technologies (CBOE: DEFI) has launched an Exchange Traded Product for TON, the crypto coin of popular encrypted messaging app Telegram
By the numbers:
- TON has recently surged to popularity, becoming the 9th largest digital asset globally by market capitalization
- The current market capitalization of TON is approximately $23B USD
Why it matters:
- Bringing digital assets into traditional public markets has been on the rise, with spot Bitcoin ETFs launching in the United States and Hong Kong for the first time ever
- Bringing decentralized digital assets into Exchange Traded Products is a seamless way to expand the accessibility of owning crypto projects through traditional public markets
Going deeper:
- Through their subsidiary Valour, DeFi Technologies operates multiple different Exchange Traded Products for leading digital assets such as Solana, Avalanche, Polkadot and others
The intrigue:
- DeFi Technologies also recently announced the launch of the world’s first Exchange Traded Product that generates yield from owning Bitcoin
