Bitwise Europe Lists Bitwise Lighter Staking ETP on Xetra Exchange

Bitwise Europe has successfully listed its Bitwise Lighter Staking ETP (BLIT) on the Xetra exchange in Germany. The ETP is linked to the native token of the decentralized perpetual futures exchange, Lighter (LIT), which trades at $5.40 per unit.

The launch marks a significant milestone for Bitwise, as it offers investors exposure to LIT through a physical ETP. The annual total expense ratio for BLIT has been set at 0.85%, with the ETP currently providing only investment opportunities tied to price fluctuations in LIT.

However, Bitwise Europe plans to expand the ETP's functionality once its operating asset balance reaches a level that enables efficient staking operations. At this point, staking will begin, and rewards will be paid out daily, reflected in the proportional share of cryptocurrencies held by BLIT.