Bitwise Lighter Staking ETP Launches on Xetra

Bitwise has launched its Bitwise Lighter Staking ETP (BLIT) on the Xetra exchange, allowing investors to buy the product through a securities account without needing a wallet or account at a crypto exchange.

The BLIT is physically backed with 100% LIT tokens and has a total expense ratio of 0.85% per year, which will be deducted from the assets continuously.

Although the product name includes 'staking', it's worth noting that no staking income is currently being paid out due to the assets not being staked yet. The company plans to start staking once the assets under management reach a sufficient size, but no date has been given for this.