{
  "id": 9373697,
  "title": "Bitwise launches first Lighter ETP amid Hyperliquid rivalry",
  "url": "https://urgent.news/2026/09/23/bitwise-launches-first-lighter-etp-amid-hyperliquid-rivalry",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T16:34:27.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/bitwise-lighter-lit-etp-europe-xetra"
  },
  "original_language": "en",
  "account": "Bitwise Asset Management has launched its first exchange-traded product (ETP) linked to the Lighter token, an Ethereum-based decentralized derivatives platform. The product, Bitwise Lighter Staking ETP (BLIT), is now available on Deutsche Börse Xetra, providing European investors with the opportunity to bet on LIT without purchasing the token directly. BLIT is backed by LIT, which is held in cold storage, and has an annual expense ratio of 0.85%. European investors can access the ETP through their regular brokerage accounts, without needing to handle LIT themselves. However, it's important to note that BLIT does not currently generate staking rewards, as they will commence once the product reaches a sufficient level of assets under management. The launch of BLIT follows Bitwise's introduction of a Hyperliquid staking ETP in Europe in April, as the firm continues to expand its offerings to include tokens associated with major decentralized derivatives platforms. Lighter, an Ethereum-based decentralized exchange specializing in perpetual futures, utilizes zero-knowledge proofs to verify trades while enabling users to maintain control of their assets. The platform also offers zero-fee trading for retail users in an effort to compete with established decentralized derivatives platforms like Hyperliquid. Lighter demonstrated a trading volume of nearly $1.8 billion in the previous 24 hours, as reported by CoinGecko. In July, Robinhood integrated Lighter into its Ethereum layer-2 network, enabling eligible Robinhood Wallet users to trade perpetual futures through Lighter's smart contracts. Although Hyperliquid, which operates on its own layer-1 blockchain, remains the dominant player in decentralized perpetual futures trading, it has continued to expand through strategic partnerships. In May, Circle announced a deal to increase USDC usage on Hyperliquid, with approximately $5 billion in USDC already held on the platform.",
  "summary": "The product gives European investors brokerage access to the LIT token as Bitwise expands its lineup of products tied to decentralized derivatives platforms.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}