Bitwise Launches First Lighter ETP in Europe Amid Hyperliquid Competition
- Bitwise Asset Management launched the Bitwise Lighter Staking ETP (BLIT) on Deutsche Börse Xetra, tracking the LIT token of decentralized platform Lighter.
- The ETP is fully backed by LIT held in cold storage and has a 0.85% annual expense ratio.
- Lighter recorded nearly $1.8 billion in trading volume over the past day, positioning itself as a competitor to established platforms like Hyperliquid.
- Staking rewards for BLIT will commence once it reaches sufficient assets under management, currently tracking LIT’s price without returns.
- Lighter uses zero-knowledge proofs for trade verification and offers zero-fee trading for retail users.
The launch of the BLIT ETP provides traditional investors with exposure to decentralized finance without needing to directly hold tokens, reflecting growing interest in innovative financial products within the crypto space.
With Lighter’s recent trading volume of $1.8 billion, its competitive stance against Hyperliquid is notable as both platforms vie for dominance in decentralized derivatives trading.(Source)
