Bitwise Launches Lighter ETP on Xetra Amid Growing European Interest in Crypto

Bitwise has launched its first exchange traded product (ETP) tracking Lighter's LIT token on Deutsche Börse Xetra, giving European investors access to the asset through conventional brokerage accounts.

The Bitwise Lighter Staking ETP, which trades under the ticker BLIT, began trading on September 23 and is physically backed by LIT held in cold storage. The product carries an annual total expense ratio of 0.85% and is issued by Bitwise Europe GmbH in Germany.

At launch, BLIT held approximately $4.74 million in assets backed by 1.01 million LIT, making its current holdings small compared to LIT's overall market value. However, the ETP could create more demand for LIT if it attracts sustained inflows, which would require more tokens to back newly created units.

Staking has not started yet and will only begin once BLIT reaches sufficient assets under management. Bitwise has not disclosed the required threshold for staking to start.