Lighter Token Price Surges 10% After Bitwise Lists Crypto ETP on Xetra

The price of Lighter (LIT) rose by 10% after Bitwise Europe listed its exchange-traded product (ETP), BLIT, on Xetra. BLIT is backed by LIT tokens held in cold storage with custodian BitGo Europe GmbH.

Bitwise operates under a base prospectus approved by Germany's Federal Financial Supervisory Authority (BaFin). The total expense ratio for the product is 0.85% per annum, and it is not compliant with the EU rulebook for retail investment funds, UCITS.

The BLIT ETP currently offers spot price exposure only to LIT, without staking its holdings. Staking is expected to begin once the ETP reaches a sufficient level of assets under management (AUM) for efficient operations.