Bitwise launches first LIT ETP on Xetra with staking inactive at launch
Bitwise's BLIT, the first ETP tracking Lighter's LIT token, began trading on Deutsche Börse Xetra on Sept. 23 with $4.74 million in assets, a 0.85% fee and no staking yet.
Why it matters
European brokerage investors can now hold LIT exposure without owning the token, and Bitwise has placed Lighter alongside the Hyperliquid product it listed in April at an identical 0.85% fee, putting two competing perpetual venues on one exchange. With staking switched off at launch and assets at $4.74 million, the ETP's pull on LIT supply is small for now; separately, the analyst Learning Pill told CryptoNews.net that 46% of circulating LIT is already staked and more than 6% repurchased, which is separate from the ETP's own inactive staking.
Where the sources disagree
LIT price action around the ETP launch
around $5 on Sept. 23, up close to 9% over 24 hours
Crypto.News
rallied toward $5.50 after the launch before reversing
Crypto News (CryptoNews.net)
near $4.87, down 11.2% over 24 hours, with a low of $4.86
Crypto News (CryptoNews.net)
Crypto.News described a launch-day gain while CryptoNews.net two days later described the rally reversing, so the two accounts point in opposite directions.
Key facts
Bitwise launched the Bitwise Lighter Staking ETP, ticker BLIT, on Deutsche Börse Xetra on Sept. 23 as the first exchange-traded product tracking LIT.
Disputed figureReported by Crypto.News
The ETP carries a 0.85% annual expense ratio and tracks the Kaiko Lighter Reference Rate.
0.85 %Reported by Crypto.News
BLIT is physically backed by LIT held in cold storage rather than providing synthetic price exposure, and is issued by Bitwise Europe GmbH in Germany.
Reported by Crypto.News
Staking is not active at launch and will start only once the ETP reaches sufficient assets under management, a threshold Bitwise has not disclosed.
Reported by Crypto.News
Bitwise's Hyperliquid staking ETP, ticker BHYP, launched on Xetra in April with the same 0.85% annual expense ratio, tracks HYPE and targets a 1% net staking reward before the management fee.
Reported by Crypto News Flash
DeFiLlama figures cited for Sept. 23 put perpetual open interest at roughly $632 million and cumulative perpetual volume at about $1.8 trillion.
632,000,000 USDDisputed figureReported by Crypto News Flash
What happened
Bitwise put the Bitwise Lighter Staking ETP, ticker BLIT, on trading at Deutsche Börse Xetra on Sept. 23, the first exchange-traded product tracking Lighter's LIT token. Cointelegraph reported the product is fully backed by LIT held in cold storage, carries a 0.85% annual expense ratio and follows the Kaiko Lighter Reference Rate, and can be bought through a regular brokerage account without buying or holding LIT. Crypto.News put launch holdings at $4.74 million, backed by 1.01 million LIT with 202,594 ETP units outstanding as of Sept. 23, and said the ETP is issued by Bitwise Europe GmbH in Germany. Staking is dormant at launch: the sources say the product tracks LIT's price without generating staking rewards until it reaches sufficient assets under management, and Bitwise has not said what that threshold is. The token's reaction is reported two ways, with Crypto.News logging LIT near $5 on Sept. 23 after a gain of close to 9% in 24 hours, and CryptoNews.net two days later describing a rally toward $5.50 that reversed to about $4.87, down 11.2% over 24 hours, on profit-taking after a month of gains above 60%. Crypto News Flash tied the launch to a wider push into decentralized derivatives, noting Bitwise's April Hyperliquid staking ETP on Xetra at the same fee and citing DeFiLlama figures of roughly $632 million in perpetual open interest and about $1.8 trillion in cumulative perpetual volume.
How the story developed
- First report
First report by Crypto.News
Lighter price gains as Bitwise launches LIT staking ETP on Xetra
- Update
Bitwise launches BLIT on Deutsche Börse Xetra
First ETP tracking LIT begins trading with about $4.74 million in assets, 1.01 million LIT in cold storage and a 0.85% annual expense ratio.
- Official statement
Bitwise says staking waits for a larger asset base
The ETP tracks LIT's price without staking rewards until it reaches sufficient assets under management; the threshold has not been disclosed.
- Independent corroboration
Independently corroborated by Crypto News Flash
Bitwise Gives Lighter Its First ETP as Hyperliquid Rivalry Expands
- Update
Launch framed as part of a Hyperliquid rivalry
Reporting links BLIT to the April Hyperliquid staking ETP on Xetra at the same fee and cites DeFiLlama activity data.
- Update
Cointelegraph picks up the launch
Adds that European investors can buy BLIT through a regular brokerage account without holding LIT, and that it is fully backed in cold storage.
- Update
LIT reverses and ETP still not staking
LIT fell below $5 to about $4.87, down 11.2% in 24 hours, on profit-taking, while the ETP remained without active staking.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 23 Sept 2026, 10:43 UTC: Crypto.News — 1 independent source, 1 reports
- 23 Sept 2026, 14:15 UTC: Crypto News Flash — 2 independent sources, 2 reports
- 23 Sept 2026, 16:34 UTC: Cointelegraph — 3 independent sources, 3 reports
- 25 Sept 2026, 16:03 UTC: Crypto News (CryptoNews.net) — 4 independent sources, 4 reports
Affected entities
Also mentioned: Tesla, Binance, Coinbase, Circle, South Korea, Germany, Upbit
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto.News Crypto media | Lighter price gains as Bitwise launches LIT staking ETP on Xetra | Original | |
| Cointelegraph Crypto media | Bitwise launches first Lighter ETP amid Hyperliquid rivalry | Independent | |
| Crypto News Flash Crypto media | Bitwise Gives Lighter Its First ETP as Hyperliquid Rivalry Expands | Independent | |
| Crypto News (CryptoNews.net) Aggregator | Lighter falls 11% after Bitwise’s LIT ETP launch – But there’s a catch! | Syndicated |
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