Accessing Lighter without the hassle
Bitwise Asset Management is making moves in the European market with the launch of its new Bitwise Lighter Staking ETP (BLIT). The product is now live on the Deutsche Börse Xetra, offering traditional investors a way to track the performance of LIT, the native token of the decentralized derivatives platform Lighter, directly through their standard brokerage accounts.
This move removes the need for users to handle the crypto themselves. The ETP is fully backed by LIT tokens held in cold storage and comes with an annual expense ratio of 0.85%. While it carries the “staking” label, Bitwise clarified that the ETP won't actually be generating staking rewards until it gathers enough assets under management to make the process efficient.
The rivalry for decentralized derivatives
Lighter operates as an Ethereum-based exchange that leans on zero-knowledge proofs to help users keep control of their assets while trading perpetual futures. It is positioning itself as a direct competitor to Hyperliquid, which currently holds a massive chunk of the market share in the decentralized perpetual futures space.
Lighter saw a major boost earlier this year when it was integrated into the Robinhood Chain, allowing eligible users of the Robinhood Wallet to tap into its services. Despite Lighter’s recent $1.8 billion trading volume over a 24-hour period, Hyperliquid remains a dominant force, maintaining its own layer-1 blockchain and controlling over 61% of the market in that sector.
Why it matters
As the crypto space grows, investment firms are bridge-building between traditional finance and decentralized platforms. This ETP gives mainstream investors a regulated pathway to gain exposure to newer, tech-heavy derivatives exchanges like Lighter without navigating the complexities of self-custody or direct token purchases.
