Bitwise launches Lighter staking ETP in Europe
- Bitwise has launched its first exchange-traded product tracking Lighter’s native LIT token.
- The Bitwise Lighter Staking ETP trades on Deutsche Börse Xetra under ticker BLIT.
- The product tracks the Kaiko Lighter Reference Rate and may generate staking-related returns.
Bitwise has launched the Bitwise Lighter Staking ETP (CRYPTO:LIT), providing exchange-traded exposure to Lighter’s native LIT token.
The product trades on Deutsche Börse Xetra under ticker BLIT with an annual TER of 0.85%.
“BLIT gives investors exchange-traded access to this growing segment, with the potential for staking-related returns,” according to Bitwise Managing Director and Head of Europe Bradley Duke.
The ETP tracks the Kaiko Lighter Reference Rate Index and holds LIT tokens in cold storage.
Lighter enables onchain trading of cryptocurrencies and stock-linked perpetual futures, including Apple, Amazon and Tesla.
Lighter charges retail traders no trading fees and generates revenue from professional market makers, liquidations and treasury income.
Staking is expected to begin after the ETP reaches sufficient assets under management for efficient operations.
The initiative expands Bitwise’s European staking ETP range into another blockchain-based trading platform.
