TON xStock 

TONXX Price

What is the TON xStock (TONXX) tokenized stock?

TON xStock (TONXX) is a tokenized tracker certificate that gives crypto traders on-chain price exposure to Ton Strategy Company (Nasdaq: TONX) — the first Nasdaq-listed Toncoin digital-asset-treasury firm — without a brokerage account. Backed Assets (JE) Limited is the issuer; Backed Finance AG tokenizes the product under ISIN CH1173294211. Per DropsTab data, TONXX exists as a Solana SPL token and an Ethereum ERC-20 contract, with Backed-documented coverage across 15 chains including Arbitrum, Base, Tron and TON. TONXX tracks the TONX share price — not the Gram token itself.

Is TONXX the same as Toncoin (TON)?

No — TONXX tracks an equity, not the Toncoin cryptocurrency. The certificate mirrors the share price of Ton Strategy Company (Nasdaq: TONX), a treasury firm holding Gram, the token renamed from Toncoin on June 15, 2026. TONXX holders gain no claim on Gram tokens, no Gram staking yield and no Open Network gas rights; the wrapper packages TONX stock exposure into a tradable token. The two instruments trade on different venues and carry different risk profiles.

What Toncoin treasury company does TONXX track?

TONXX tracks Ton Strategy Company (Nasdaq: TONX), formerly Verb Technology. The underlying holds roughly 230.5 million Gram — the token formerly known as Toncoin — and stakes nearly all of it on the company's own validator infrastructure. Treasury staking, not the legacy social-commerce business (MARKET.live, LyveCom), now drives the equity; that business has been largely wound down since July 2026. Each TONXX certificate therefore carries concentrated, single-asset Gram exposure.

Who invested in Ton Strategy Company (TONX)?

Ton Strategy Company raised $558 million in a private placement that closed August 8, 2025. The round was upsized and oversubscribed, structured with Kingsway Capital, and drew 110+ institutional and crypto-native investors — led by Kingsway, anchored by Vy Capital, Blockchain.com, Ribbit Capital and Graticule, with Pantera, Kraken, Animoca and BitGo also participating. Roughly 58.7 million shares were issued, implying about $9.51 per share. Backer breadth signaled institutional appetite for a Nasdaq-listed Toncoin treasury vehicle.

What backs the TONXX tracker certificate's value?

Each xStock certificate is fully collateralized 1:1 with underlying TONX shares held in regulated custody, per xStocks documentation. Corporate actions pass through on-chain rebasing — dividends are reinvested and splits adjust token balances. Fees run at zero management cost today, though up to 0.25% per year may be introduced, plus up to 0.50% on issuance and redemption. Backed's primary market issues and redeems certificates against demand, keeping the wrapper aligned with the underlying share.

Does TONXX have a fixed token supply or an unlock schedule?

TONXX has neither a fixed maximum supply nor a vesting schedule. Per DropsTab data, the token supply is an elastic mint-and-redeem inventory with no set ceiling — Backed issues certificates against primary-market demand, so supply tracks certificates issued rather than TONX shares outstanding. Because TONXX is a tracker certificate rather than a protocol token, cliff and unlock risk does not apply. Dilution risk sits at the equity layer instead: Ton Strategy Co. filed an at-the-market program of up to $1 billion.

Where can I buy TON xStock (TONXX)?

TONXX trades as an xStock on centralized and decentralized venues. Kraken lists the certificate as TONXx spot, available 24/5 around US market hours; Bybit offers xStocks against USDT, and BitMart supports xStocks-issued tokenized stocks. On-chain, secondary trading is permissionless on DEXs — natively on Solana and on STON.fi following the December 2025 xStocks expansion to the TON blockchain and Telegram. Telegram Wallet supports in-chat purchases, extending TONXX access to Telegram's in-app audience. Primary issuance and redemption run 24/5 through Backed for KYC-onboarded qualified investors, in stablecoins or in-kind via xPort.

Why did Toncoin rebrand to Gram, and does the rebrand affect TONXX?

Toncoin rebranded to Gram (GRAM) effective June 15, 2026, after an 81.22% governance vote. The rebrand involved no token swap, and Ton Strategy confirmed treasury continuity — the company's roughly 230.5 million Gram holdings carried over unchanged. The rebrand therefore does not alter TONXX's collateral or its tracking of TONX shares. Separate TON network upgrades on June 4, 2026 left validation rewards largely unchanged, so the underlying's staking economics were broadly unaffected.

What are the main risks of holding TONXX?

Three risks apply. First, TONXX inherits Ton Strategy's concentrated Gram exposure — the company reported a Q1 2026 net pre-tax loss of $91.0 million, including an $87.9 million unrealized loss on crypto holdings. Second, on-chain liquidity is thin; wide spreads and premiums or discounts to the TONX share appear when US markets are closed. Third, access is restricted — per Backed, the product is not available to US persons or UK retail clients. A $250 million share-repurchase program partially offsets equity-layer dilution from the ATM program.