Bitwise Launches LIT-Tracking ETP on Deutsche Börse Xetra

Bitwise has launched its first European exchange-traded product (ETP) called BLIT, which tracks the price of Lighter's native LIT token. The ETP is listed on Deutsche Börse Xetra and comes with an annual fee of 0.85%. This launch marks Bitwise's effort to introduce traders to decentralized derivatives markets through the platform Lighter.

Investors can gain exposure to LIT without directly holding the token, thanks to BLIT. The ETP provides a regulated way for traditional brokerage users to access crypto assets, making it easier for them to participate in the market.

The launch follows Bitwise's adoption of blockchain-based trading platforms with its Hyperliquid Staking ETP launched in Europe in April. This move is part of Bitwise's strategy to offer European investors access to tokens tied to decentralized trading platforms without direct exposure to cryptocurrency trading infrastructure.