Toncoin Is Now Gram: What ETP Holders Need to Know

Toncoin has been renamed Gram. A TON community governance vote ran from 1 to 8 June 2026 and carried with 81.22% support; the rename itself took effect at 12:00 UTC on 15 June 2026, when the token that traded as TON became GRAM. If you hold the asset directly, there is nothing to do — no swap, no migration, no bridge transfer, no claim. If you hold it through an exchange-traded product, there is also nothing to do: the terms of a physically-backed ETP are not altered when the underlying token changes its name. What does change is display. Names and tickers update at different speeds across issuers, exchanges, brokers and data vendors, so for a period you may see the same asset labelled one way at your broker and another way on an exchange page. That gap is the source of nearly all the current confusion — and, as set out below, it is also what scammers are exploiting.

What actually changed #

The change is a relabelling, not a re-issuance. The token formerly known as Toncoin is now Gram; the ticker moved from TON to GRAM. Everything beneath the label is unchanged.

• Balances are unchanged. Ten Toncoin is ten Gram — same quantity, same value, same wallet, same address.
• Contract and network are unchanged. There is no new token contract and no migration path, because none is needed.
• The blockchain is still The Open Network (TON). The network keeps its name; only the token’s name and ticker changed.

It is worth being precise about that last point, because it is a common misreading. TON is the network. Gram is now the token that runs on it. Before 15 June 2026 the token was called Toncoin, which made the network and token names look almost interchangeable. They were always distinct.

Why an ETP’s terms are unaffected by an underlying’s rename #

A physically-backed exchange-traded product is a security issued against a holding of the underlying asset. Its economics are defined by the issuer’s terms: what the product tracks, the entitlement of coin per security, the management fee, the custody arrangements and the redemption mechanics. If you are new to the structure, our explainer on what a crypto ETN is covers how these products differ from a fund.

None of those variables is touched by a naming decision at token level. The issuer’s custodian holds the same units of the same asset on the same chain, at the same addresses, before and after the rename. The entitlement per security does not change. The fee does not change. There is no corporate-action-style event to process, no ratio adjustment, and nothing an investor needs to elect. A token rename is closer to a company changing its trading name than to a share split or a redenomination: the label on the tin moves, the contents do not.

As a concrete illustration of how a listed product’s naming follows a token rebrand — and explicitly not a recommendation — consider Valour Gram SEK, ticker GRAM, listed on Spotlight Stock Market since 8 May 2024. It is physically backed, with custody at Copper and Komainu, and carries a 1.9% annual management fee. It launched in May 2024 as a Toncoin (TON) product and was the first Toncoin ETP in the Nordics; its naming now follows the rebrand. The 1.9% fee is a term of the product and is unrelated to the rename — as with any single-asset ETP, the ongoing cost is worth comparing across issuers, in the same way readers weigh up structures in our Solana ETP guides. Other issuers with exposure to this asset will make their own naming and timing decisions.

The naming lag, and how to verify you hold what you think you hold #

A rename propagates through a chain of parties, each on its own schedule: the issuer updates its product pages and factsheets; the listing venue updates the instrument record; data vendors update their reference feeds; and brokers pick that up on their own refresh cycle. Some steps take days, some take considerably longer. Many venues bridged the gap by displaying the asset as “Gram (prev. Toncoin)” through the transition, with the bulk of updates expected within the week following the switch — but coverage was never uniform, and stragglers persist. The predictable result is a window in which the same instrument appears as “Toncoin” in one place and “Gram” in another, and in which price and reference data can look inconsistent even though nothing about the holding has changed.

If you want to confirm your position is the instrument you intended to buy, the reliable checks are structural rather than nominal:

• Use the security identifier, not the name. The ISIN identifies the ETP itself, not the token it tracks. It is unaffected by a rename, so it remains the dependable key when a name or ticker looks wrong.
• Check the issuer’s own product page. The issuer is the authoritative source for what a product tracks, its fee and its custody arrangements — ahead of any third-party data feed.
• Expect factsheets and charts to lag. A stale name on a PDF or a delayed vendor feed is a documentation issue, not a change to your entitlement.
• Do not treat a name mismatch as a reason to trade. Selling because a label looks unfamiliar is an expensive way to resolve a display problem.

The scam warning: there is no migration #

There is no official migration site. Any message telling you to migrate, exchange, swap or claim Gram is a scam. That applies without exception — to emails, Telegram messages, X posts, sponsored search results, wallet pop-ups and support staff who contact you first.

The reason this matters more than usual is the naming lag described above. A holder who sees “Toncoin” at their broker and “Gram” on an exchange is already primed to believe something needs reconciling, which is precisely the confusion a fake migration page is designed to exploit. There is nothing to reconcile. No legitimate process will ever ask you for a seed phrase, a private key, a wallet connection to a “claim” contract, or a transfer to a migration address. ETP holders in particular have no on-chain exposure at all: your position is a security held in a brokerage account, and no wallet interaction of any kind is involved.

Why the name is Gram: the Telegram and SEC backstory #

“Gram” was the token’s original name in Telegram’s 2018 whitepaper. The original Gram offering drew action from the US Securities and Exchange Commission; Telegram settled in 2020, returning more than $1.2 billion to investors and paying an $18.5 million civil penalty. The project then continued as a community-led effort under the name The Open Network, and the token was deliberately named Toncoin to put distance between it and the litigated “Gram” name.

The 2026 vote restores the original name, and the change is associated with renewed involvement from Pavel Durov. For investors, the history is context rather than a variable: it explains why the name changed and why the change carries symbolic weight, but it does not alter the terms, custody or structure of any listed product tracking the asset.

What, if anything, to check #

For most holders the answer is genuinely nothing. If you want a short list:

1. Confirm your ETP position by its security identifier rather than by name.
2. Read the issuer’s product page for the definitive fee, custody and tracking terms.
3. Ignore — and do not click — anything describing a Gram migration, swap or claim.
4. Allow time for broker displays, factsheets and data feeds to catch up before concluding something is wrong.

FAQ #

Does a token rename change my ETP’s terms? #

No. A physically-backed ETP’s terms — what it tracks, the entitlement per security, the management fee, the custody arrangements — are set by the issuer and are unaffected by the underlying token changing its name or ticker. The product continues to track the same asset.

Do I need to do anything? #

No. There is no token swap, no contract migration, no bridge transfer and no claim process, for direct holders or ETP holders. Balances and addresses are unchanged: ten Toncoin is ten Gram.

Why does my broker still show “Toncoin”? #

Because name and ticker updates propagate unevenly. Issuers, listing venues, data vendors and brokers each refresh their reference data on different schedules, so an old name can persist in one system after another has updated. It is a display lag, not a discrepancy in your holding.

Is Gram a different cryptocurrency from Toncoin? #

No. It is the same asset with a new name and ticker. The blockchain remains The Open Network, the contract is unchanged, and the change from TON to GRAM was a relabelling approved by a community vote with 81.22% support on 15 June 2026.

This is not financial advice. Capital at risk. Crypto-assets are highly volatile and ETPs/ETNs carry issuer risk. Do your own research and consult a qualified adviser.