Bitwise Brings Lighter Staking Product to Xetra

Bitwise Asset Management has launched an exchange-traded product (ETP) on Deutsche Börse Xetra that tracks Lighter's native token, LIT. The Bitwise Lighter Staking ETP, tickered BLIT, is the first product to give European investors exposure to LIT and carries a 0.85% annual expense ratio.

The launch of BLIT comes six months after Bitwise's Hyperliquid staking ETP went live in Europe. While BLIT is not yet generating staking rewards, Bitwise has stated that this will begin once the product holds enough assets under management to make the process efficient.

Lighter and Hyperliquid are both perpetual futures exchanges, but they have different business models. Lighter charges retail traders zero fees, while Hyperliquid has more than 61% of decentralized perpetual futures trading on one public measure of market share.