Bitwise Debuts Lighter Staking ETP on Deutsche Börse Xetra

The ETP, issued by Bitwise Europe GmbH, tracks the Kaiko Lighter Reference Rate and carries an annual expense ratio of 0.85%. At its Sept. 23 debut, the product held roughly $4.74 million in assets, backed by 1.01 million LIT tokens stored in cold storage. Despite the "staking" designation, the fund is not yet generating yield; Bitwise confirmed that staking operations will only activate once the product reaches a sufficient threshold of assets under management, though the specific requirement remains undisclosed.

LIT, the native token for the Lighter decentralized exchange, saw its price reach approximately $5 on the day of the launch, marking a 9% gain over the previous 24 hours. While the ETP creates a new regulated demand channel, its current holdings represent only a fraction of the token’s $1.27 billion market capitalization. The launch follows a broader trend of Bitwise expanding its European footprint in decentralized finance, including previous products tied to the Hyperliquid platform. Bitwise Managing Director Bradley Duke noted that the product serves as a bridge for investors looking to access onchain platforms that increasingly integrate traditional assets like U.S. stocks.