Lighter Price Gains as Bitwise Launches LIT Staking ETP on Xetra
The physically backed product gives European investors brokerage access to LIT and will not pay staking rewards until Bitwise activates the feature.
- On Wednesday, Bitwise Asset Management launched the Bitwise Lighter Staking ETP on Deutsche Börse Xetra, offering European investors regulated exposure to LIT, the native token of decentralized exchange Lighter.
- Bitwise designed the product to bridge on-chain assets with mainstream markets, expanding its lineup of products tracking tokens connected to decentralized perpetual futures platforms like Lighter and Hyperliquid.
- Issued by Bitwise Europe GmbH, the ETP is physically backed by LIT held in cold storage, carrying a 0.85% annual expense ratio with assets under management standing at approximately $4.74 million.
- Despite its name, the product does not currently generate staking rewards; Bitwise stated it will announce the start of staking separately once the ETP reaches sufficient assets under management.
- "We're excited to bring LIT to European investors," Lighter founder and CEO Vladimir Novakovski said. The launch arrives as LIT trades near $5, though the product remains small relative to the token's overall market value.
16 Articles
16 Articles
Lighter price gains as Bitwise launches LIT staking ETP on Xetra
Bitwise has launched its first exchange traded product tracking Lighter’s LIT token on Deutsche Börse Xetra, giving European investors access to the asset through conventional brokerage accounts. According to Bitwise, the Bitwise Lighter Staking ETP began trading under the ticker…
Bitwise launches first Crypto ETP tracking Lighter, a fast-growing challenger to Hyperliquid
Bitwise launches first Crypto ETP tracking Lighter, a fast-growing challenger to Hyperliquid Provides exposure to LIT, the native token of Lighter, with the potential to earn...
Key points of the news: The financial vehicle is listed under the BLIT ticker in Deutsche Börse Xetra with total physical backup in cold custody. The LIT token registered a 12% advance in the last 24 hours after the official announcement of its departure to the stock exchange. The protocol maintains a total value blocked (TVL) ... Read more
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