Bitwise Launches First European Lighter Token ETP
Bitwise started trading a new product on Xetra, giving investors exposure to the LIT token without direct custody.
Key points
- Bitwise launched the first European ETP tracking the LIT token on Deutsche Börse Xetra.
- The product has a 0.85% annual fee and currently does not pay staking rewards.
- Lighter recorded $1.8 billion in trading volume while Hyperliquid holds 61% market share.
Bitwise Asset Management launched its Lighter Staking ETP in Europe on Wednesday. The product trades on the Deutsche Börse Xetra exchange. It is the first exchange-traded product tracking the LIT token. This move gives traditional investors direct market access. They no longer need to hold the digital asset themselves. The launch expands Bitwise’s growing list of crypto products.
Product mechanics and costs
The ETP is fully backed by LIT tokens in cold storage. Investors pay a 0.85% annual expense ratio for the service. Staking rewards are not currently active for this product. Bitwise said staking will begin only after assets grow enough. Until then, the product tracks the token's price. It does not generate additional returns from staking activities.
Lighter competes with Hyperliquid
Lighter is an Ethereum-based platform for perpetual futures trading. It uses zero-knowledge proofs to verify trades securely. Users keep control of their assets during this process. The platform offers zero-fee trading for retail customers. This strategy helps it compete against larger established rivals. Hyperliquid remains the dominant player in this specific market space.
Market share and trading volume
Lighter recorded nearly $1.8 billion in trading volume recently. CoinGecko data confirms this significant daily activity level. Hyperliquid controlled more than 61% of decentralized perpetual futures trading. This data was cited by The Motley Fool. The larger platform continues to expand its network partnerships. Circle recently announced a deal to expand USDC usage there.
