Bitwise has launched the Bitwise Lighter Staking ETP (BLIT), the first European exchange-traded product tracking LIT, the native token of the decentralized derivatives platform Lighter. The product began trading on Deutsche Börse Xetra, the German exchange group's electronic trading venue, on September 23, according to a press release from the asset manager.

The debut adds a new element to Bitwise's European crypto product lineup and reflects the firm's effort to familiarize traditional traders with the decentralized derivatives market through the Lighter platform. For brokerage clients, it provides a regulated route to LIT exposure without requiring them to hold the token directly.

Bitwise Brings LIT to European Investors

BLIT is issued by Bitwise Europe GmbH in Germany and carries an annual fee of 0.85%. The product tracks the Kaiko Lighter Reference Rate Index and is fully backed by LIT tokens held in cold storage.

Investors can purchase the ETP through a standard investment account, without registering a crypto wallet, managing private keys, or handling tokens on-chain. This means positions can be managed entirely within conventional brokerage infrastructure. According to Bitwise, the structure gives European investors an exchange-traded gateway into the emerging on-chain trading sector.

Staking Rewards Are Not Live Yet

Despite its name, BLIT is not currently generating staking income for investors. Bitwise stated that staking will commence once the ETP reaches the level of assets under management needed to make the process efficient. The company did not announce a specific date for the activation. In the meantime, holders are exposed to movements in LIT's price but do not receive staking-related returns.

Because activation depends on assets under management rather than a set date, the ETP's growth is the stated condition to monitor for when staking begins. Once staking has commenced, rewards will be credited on a daily basis and will be reflected in the crypto exposure of the ETP's units.

Lighter Pushes On-Chain Trading Beyond Crypto

Lighter is building a blockchain-based trading platform designed to offer exposure to both crypto derivatives and traditional assets. The platform has introduced perpetual futures contracts tied to major U.S. companies, including Apple, Amazon, and Tesla, enabling those markets to be traded on blockchain infrastructure rather than through traditional broker networks.

Lighter also offers a fee-less trading experience for retail participants. Rather than charging retail traders, the platform generates revenue from trading fees paid by professional market makers, transactions with liquidators, and income from its treasury.

LIT serves as the native token of the Lighter network, designed to align participants within the platform and support its internal economics.

Bitwise Expands Its Staking ETP Strategy

The Lighter launch follows Bitwise's Hyperliquid Staking ETP, which was introduced in Europe in April. Together, the two products give European investors access to tokens connected to decentralized trading platforms, without requiring direct interaction with the underlying cryptocurrency trading infrastructure. The pairing also points to decentralized trading venues becoming a distinct theme in Bitwise's European staking ETP lineup.

For Lighter, the BLIT launch places LIT inside a traditional investment vehicle that can be accessed through ordinary brokerage accounts, extending the token's availability beyond crypto-native channels.

Risk Disclosures

Bitwise cautioned that the underlying crypto market carries a distinct set of risks, including sharply fluctuating prices, limited liquidity, custody-related volatility, shifts in regulation, and network-related risks. The company also warned that the ETP may not precisely track LIT and that investors could lose some or all of their invested capital.

This article is based on reporting by Crypto Ninjas.