Bitwise Launches First Lighter Token ETP in Europe
Bitwise debuts Lighter exchange-traded product
Bitwise Asset Management has launched its first exchange-traded product (ETP) tracking Lighter, a decentralized derivatives platform. The new product, named the Bitwise Lighter Staking ETP (BLIT), is now available on the Deutsche Börse Xetra exchange in Europe. An exchange-traded product is a type of investment that tracks the value of an underlying asset, such as a cryptocurrency, and can be bought and sold on traditional stock exchanges. This launch gives European investors a way to gain exposure to the LIT token, the native token of Lighter, through a regular brokerage account. Investors do not need to buy or hold the LIT token directly in a digital wallet.
Product details and staking plans
The BLIT product is fully backed by LIT tokens held in cold storage, which is an offline form of digital wallet storage designed to be secure from hacking. The product carries an annual expense ratio of 0.85%. Although the product is named a "staking" ETP, Bitwise stated that staking rewards are not currently being generated. Staking involves holding certain cryptocurrencies in a digital wallet to support the operation of a blockchain network in return for rewards. Bitwise explained that staking rewards will begin once the product accumulates enough assets to make the process efficient. Until that milestone is reached, the ETP will only track the price movement of the LIT token.
Competition in decentralized derivatives
This launch follows Bitwise’s introduction of a Hyperliquid staking ETP in Europe in April. The asset manager is expanding its lineup to include products tied to major decentralized derivatives platforms. These platforms allow users to trade financial contracts without relying on a centralized company to hold their funds. Lighter operates as an Ethereum layer-2 network, which is a secondary framework built on top of the Ethereum blockchain to improve speed and reduce costs. It focuses on perpetual futures, which are financial contracts that allow traders to speculate on the future price of an asset without an expiration date. Lighter uses zero-knowledge proofs, a method of verifying transactions without revealing the underlying data, to secure trades while allowing users to keep control of their assets. The platform has begun charging zero fees for retail traders as it competes with larger rivals like Hyperliquid. Hyperliquid runs on its own separate blockchain and previously controlled more than 61% of the decentralized perpetual futures market. Data from CoinGecko showed that Lighter recorded nearly $1.8 billion in trading volume over a recent 24-hour period. Lighter also gained distribution access in July when the crypto trading app Robinhood integrated the exchange into its Robinhood Chain, an Ethereum layer-2 network. This allows eligible users to trade perpetual futures through Lighter smart contracts on Robinhood Chain.
What is confirmed
- Bitwise launched the BLIT ETP on Deutsche Börse Xetra on September 23, 2026.
- The product is the first ETP to track the LIT token.
- Staking rewards are paused until the product reaches sufficient asset size.
- Lighter has seen significant trading volume and recent integration with Robinhood.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.