Bitwise Asset Management has introduced the Bitwise Lighter Staking ETP (BLIT) on the Deutsche Börse Xetra exchange. This product provides European investors with exposure to the LIT token, which is the native asset of the decentralized derivatives platform Lighter, through standard brokerage accounts.
The ETP is fully collateralized by LIT held in cold storage and features an annual expense ratio of 0.85%. While the product is named a staking ETP, it does not currently generate staking rewards. Bitwise plans to enable staking once the fund accumulates sufficient assets under management to ensure operational efficiency.
Lighter is an Ethereum-based decentralized exchange specializing in perpetual futures. It utilizes zero-knowledge proofs for trade verification and offers zero-fee trading for retail users. According to CoinGecko, the platform recorded nearly $1,8 billion in trading volume over a 24-hour period.
The platform expanded its reach in July through an integration with Robinhood Chain, allowing eligible Robinhood Wallet users to trade perpetual futures. This launch follows Bitwise’s previous introduction of a Hyperliquid staking ETP in Europe, which occurred in April as part of the firm's strategy to target decentralized derivatives platforms.
