Bitwise Launches First Lighter ETP Amid Growing Competition

Bitwise Asset Management has launched its first Lighter Exchange-Traded Product (ETP), which will allow investors to gain exposure to a diversified portfolio of cryptocurrencies.

The new ETP, called the Bitwise Multi-Asset Index ETP, is designed to provide a more efficient and cost-effective way for investors to access a range of cryptocurrencies, rather than buying and holding individual assets.

Bitwise's ETP will track the performance of the Bitwise Multi-Asset Index, which is composed of 10 large-cap cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH).

The launch of the Lighter ETP comes as a rival product, Hyperliquid, has been gaining traction in recent months. Hyperliquid's ETP offers a similar investment approach, but with a different set of underlying assets.