Bitwise launches first Lighter ETP amid Hyperliquid rivalry
The product gives European investors brokerage access to the LIT token as Bitwise expands its lineup of products tied to decentralized derivatives platforms.
The product gives European investors brokerage access to the LIT token as Bitwise expands its lineup of products tied to decentralized derivatives platforms.
Bitwise Asset Management has launched an exchange-traded product (ETP) in Europe tracking Lighter, giving traditional investors a way to bet on one of Hyperliquid’s emerging rivals without buying its token directly.
On Wednesday, Bitwise said its Bitwise Lighter Staking ETP (BLIT) had launched on Deutsche Börse Xetra, making it the first exchange-traded product tracking LIT, the native token of decentralized derivatives platform Lighter.
Lighter is an Ethereum-based decentralized exchange focused on perpetual futures, using zero-knowledge proofs to verify trades while allowing users to retain control of their assets rather than depositing them with a centralized exchange. The platform also offers zero-fee trading for retail users, part of its effort to compete with established decentralized derivatives platforms such as Hyperliquid.