Bitwise Asset Management, a digital asset investment firm focusing in crypto-linked exchange-traded products, has rolled out a new European offering tracking Lighter, giving traditional investors a regulated path to gain exposure to one of Hyperliquid’s rising competitors without directly buying its token.
The company confirmed Wednesday that its Bitwise Lighter Staking ETP, trading under the ticker BLIT, had gone live on Deutsche Börse Xetra, marking the first exchange-traded product anywhere tracking LIT, the native token operating the decentralized derivatives platform Lighter.
@Bitwise_Europe has launched the Bitwise Lighter Staking ETP, $BLIT, the world’s first exchange-traded product giving investors exposure to $LIT.
Lighter is a decentralized perpetual futures exchange on Ethereum built on a custom zero-knowledge rollup, making every trade and liquidation independently verifiable on-chain. $LIT is its governance and staking token.
Grateful to the @Lighter_xyz community for the chance to bring ETP access to one of the most closely watched tokens in crypto.
Now trading on Xetra. Available to European investors.
— Bitwise (@Bitwise) September 23, 2026
Fully supported by LIT held in cold storage, the product carries a 0.85% annual expense ratio, letting European investors gain exposure through an usual brokerage account rather than buying or custodying the token themselves.
Staking Rewards Remain On Hold For Now
Despite carrying “staking” in its name, BLIT isn’t currently generating any staking rewards. Bitwise explained that staking functionality will only activate once the product accumulates sufficient assets under management to make the process operationally efficient. Until that threshold is reached, the ETP will simply track LIT’s underlying price movements without producing any additional staking-based returns for holders.
Source: bitwiseinvestments.eu
This Lighter-focused launch builds directly on Bitwise’s earlier move into this corner of the market, following its introduction of a Hyperliquid staking ETP in Europe back in April, part of a broader strategy to expand its product lineup around tokens tied to major decentralized derivatives platforms.
What Sets Lighter Apart In The Perpetuals Space
Lighter functions as an Ethereum-based decentralized exchange built specifically around perpetual futures trading, trusting on zero-knowledge proofs to verify transactions while letting users uphold custody of their own assets rather than depositing funds with a centralized intermediary.
The platform has also positioned itself competitively by offering zero-fee trading for retail users, a deliberate strategy aimed at challenging more established decentralized derivatives platforms like Hyperliquid. Trading activity on Lighter has been substantial, with the platform recording nearly $1.8 billion in volume over a recent 24-hour period, according to data from CoinGecko.
Robinhood Integration Expands Lighter’s Reach
Lighter picked up a significant distribution boost in July when Robinhood integrated the exchange directly into Robinhood Chain, its own Ethereum layer-2 network, allowing eligible Robinhood Wallet users to trade perpetual futures through Lighter, with trades settling via Lighter’s smart contracts on that same chain. Even so, Hyperliquid remains the considerably larger player in this space.
$LIT is now accessible to investors through the world’s first Lighter staking ETP, launched by Bitwise in Europe.
— Lighter (@Lighter_xyz) September 23, 2026
Where Lighter functions as a layer-2 network built on Ethereum, Hyperliquid operates its own independent layer-1 blockchain entirely, and currently commands more than 61% of all decentralized perpetual futures trading volume, according to figures cited by The Motley Fool.
Hyperliquid has continued strengthening its position through additional partnerships too, including a May agreement with Circle to expand USDC usage on the platform, covering deeper liquidity and smoother cross-chain stablecoin transfers. At the time that deal was announced, roughly $5 billion in USDC was already held on Hyperliquid, according to figures from Coinbase.
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