Bitwise launches first Lighter ETP amid Hyperliquid rivalry
Bitwise Asset Management launched a European exchange-traded product, Bitwise Lighter Staking ETP (BLIT), on Deutsche Börse Xetra, giving investors exposure to Lighter’s native token, LIT, without directly buying it. The ETP is fully backed by LIT held in cold storage, charges a 0.85% annual fee, and currently tracks the token’s price without staking rewards; staking will begin later if assets under management become large enough. The launch follows Bitwise’s earlier Hyperliquid staking ETP and reflects its push into tokens tied to major decentralized derivatives platforms. Lighter is an Ethereum-based perpetual futures exchange that uses zero-knowledge proofs, keeps users in control of assets, and offers zero-fee trading for retail users. It has grown quickly, including a Robinhood integration, but still trails Hyperliquid, which remains the dominant decentralized perp trading platform.
