Bitwise launches first Lighter ETP amid Hyperliquid rivalry

The product gives European investors brokerage access to the LIT token as Bitwise expands its lineup of products tied to decentralized derivatives platforms.

Bitwise Asset Management has launched an exchange-traded product (ETP) in Europe tracking Lighter, giving traditional investors a way to bet on one of Hyperliquid’s emerging rivals without buying its token directly.

On Wednesday, Bitwise said its Bitwise Lighter Staking ETP (BLIT) had launched on Deutsche Börse Xetra, making it the first exchange-traded product tracking LIT, the native token of decentralized derivatives platform Lighter.

The product is fully backed by LIT held in cold storage and carries a 0.85% annual expense ratio. European investors can buy the ETP through a regular brokerage account without buying or holding LIT directly.

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