Bitwise Brings Lighter ETP to Market, Offering Alternative to Hyperliquid

Bitwise Asset Management has launched an exchange-traded product (ETP) in Europe that tracks Lighter, allowing traditional investors to bet on one of Hyperliquid's emerging rivals without directly buying its token. The Bitwise Lighter Staking ETP (BLIT) debuted on Deutsche Börse Xetra, making it the first product to track LIT, the native token of decentralized derivatives platform Lighter.

The ETP is fully backed by LIT held in cold storage and carries an annual expense ratio of 0.85%. European investors can buy the ETP through a regular brokerage account without buying or holding LIT directly.

Despite its name, BLIT isn't generating staking rewards yet. Bitwise said staking will begin once the product reaches enough assets under management to make the process efficient.