Bitwise Debuts Europe's First ETP Tracking Lighter Token

Bitwise Asset Management has expanded its European crypto product lineup with a new exchange-traded product (ETP) tied to Lighter, a decentralized derivatives venue that's positioning itself as a challenger to Hyperliquid in perpetual futures trading. The Bitwise Lighter Staking ETP, trading under the ticker BLIT, began trading on Deutsche Börse Xetra on Wednesday, giving traditional brokerage customers regulated exposure to LIT, the native token of the Ethereum-based Lighter network.

The launch marks the first ETP in Europe designed to track LIT. The product is fully backed by LIT held in cold storage and carries an annual expense ratio of 0.85%. It tracks the Kaiko Lighter Reference Rate Index. However, staking operations will not commence immediately, as Bitwise plans to activate them once the ETP reaches a sufficient level of assets under management.

Bradley Duke, Managing Director and Head of Europe at Bitwise, said 'BLIT gives investors exchange-traded access to this growing segment, with the potential for staking-related returns, through a familiar and regulated structure.'