Bitwise launches first European Lighter ETP

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Bitwise Asset Management has launched Europe’s first exchange-traded product (ETP) tracking Lighter, giving investors exposure to the decentralised derivatives platform without directly holding its LIT token.

The Bitwise Lighter Staking ETP (BLIT) began trading on Deutsche Börse Xetra on Wednesday. The product is fully backed by LIT held in cold storage and has an annual expense ratio of 0.85%.

Despite its name, BLIT will not initially generate staking rewards. Bitwise said staking will begin once the ETP has enough assets under management to make the process efficient. Until then, the product will track the price of LIT without passing on staking returns.

The launch follows Bitwise’s introduction of a Hyperliquid staking ETP in Europe in April. The two products give traditional investors access to tokens linked to decentralised derivatives platforms through standard brokerage accounts.