Bitwise Lights Up European Markets with Lighter Staking ETP
Bitwise has launched the Bitwise Lighter Staking ETP (BLIT) on Deutsche Börse Xetra, providing European investors with exchange-traded exposure to LIT, the native token of decentralized perpetual futures platform Lighter. The product tracks the Kaiko Lighter Reference Rate Index and carries a 0.85% total expense ratio.
Lighter operates as a Layer 2 on Ethereum, using zero-knowledge proofs to verify order matching and liquidations while processing transactions off the main chain before submitting proofs back to Ethereum. The platform has expanded beyond crypto perpetuals to list major global stocks, including Apple, Amazon, and Tesla, as continuously tradable perpetual futures.
The staking component of BLIT is not yet generating returns, but once activated, any staking rewards would accrue daily and be reflected in each ETP unit's cryptocurrency entitlement. No activation timeline has been disclosed by Bitwise or Lighter.