Bitwise launches Lighter Staking ETP (BLIT) on Deutsche Börse Xetra

Bitwise Europe GmbH has listed the Bitwise Lighter Staking ETP (ticker BLIT) on Deutsche Börse Xetra, providing a regulated, physically‑backed way for European investors to gain exposure to Lighter’s native token, LIT, without holding the cryptocurrency directly.

Product details

• Launch date: 23 September
• ISIN: DE000A4AV9T5
• Annual total expense ratio: 0.85 %
• Physical replication: each unit is backed by LIT held in cold storage
• Initial assets under management: ~US$4.74 million, representing 1.01 million LIT
• Units outstanding at launch: 202,594, each representing just under 5 LIT

Market context

LIT was trading around US$5 on 23 September, up roughly 9 % over the previous 24 hours. CoinGecko listed LIT’s market capitalization at about US$1.27 billion, with daily volume near US$84.7 million. The BLIT holdings therefore represent a small fraction of the overall LIT supply.

Staking status

Despite the “staking” label, the ETP is not yet staking its underlying LIT. Bitwise indicated that staking will commence only after the product reaches a yet‑to‑be‑disclosed asset threshold. Until then, BLIT provides pure price exposure and charges the 0.85 % fee.

Potential impact

The ETP creates an additional distribution channel for LIT, which could generate demand if sustained inflows require additional tokens to back new units. However, the product’s modest size at launch limits any immediate effect on LIT’s price or circulating supply.

Background on Lighter

Lighter is an Ethereum layer‑2 decentralized exchange focused on perpetual futures. It uses zero‑knowledge proofs to verify order matching and processes trades off‑chain before submitting proofs to Ethereum. The platform offers perpetual contracts linked to crypto assets as well as synthetic exposure to equities such as Apple, Amazon and Tesla.

Bitwise’s broader strategy

BLIT follows Bitwise’s earlier launch of a Hyperliquid Staking ETP in Europe and a Hyperliquid ETF in the United States, reflecting the firm’s push to provide regulated, exchange‑traded access to tokens tied to decentralized perpetual futures platforms.