With the introduction of Bitwise's Lighter Staking ETP, European investors now have exchange-traded access to Lighter's native LIT token through Deutsche Börse Xetra. The product, called BLIT, tracks the Kaiko Lighter Reference Rate and started trading on September 23, 2026. It can be bought through a standard brokerage account and is completely backed by LIT kept in cold storage, eliminating the need for a cryptocurrency wallet or direct token management.

BLIT Brings LIT to Traditional Brokerage Accounts

BLIT has the ISIN DE000A4AV9T5 and is issued by Bitwise Europe GmbH in Germany. The ETP aims to offer 1:1 exposure to LIT and has a yearly total expense ratio of 0.85%.

BitGo Europe is the custodian of the underlying tokens, which are kept in cold storage. The product can be purchased and sold using a typical brokerage account and is set up as a completely physically backed security.

The product was also designed by Bitwise to support staking incentives. At launch, though, the feature isn't available. Only when the ETP has enough assets under control for the process to run smoothly will staking start. Until then, BLIT does not produce staking returns; instead, it solely monitors LIT's price performance.

We're pleased to announce the launch of the Bitwise Lighter Staking ETP, the world's first exchange-traded product providing exposure to ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2.

Lighter: a decentralised perpetual futures exchange built on @ethereum. LIT is its… pic.twitter.com/1mgwRcXVW1

— Bitwise in Europe (@Bitwise_Europe) September 23, 2026

Lighter Connects Crypto and Real World Asset Trading

Lighter is an Ethereum-based decentralised trading platform that enables users to trade real-world asset derivatives and cryptocurrency derivatives directly on the network. Perpetual futures linked to significant cryptocurrencies and assets like Apple, Amazon, and Tesla are among its services.

The platform maintains the trading process onchain while making transaction execution verifiable through the use of zero-knowledge proofs. The network was created to bring institutional-quality perpetuals trading fully onchain without sacrificing speed, according to Vladimir Novakovski, the founder and CEO of Lighter.

With the introduction of Bitwise, LIT enters a traditional securities market, although the underlying platform still uses blockchain technology.

The ETP Tracks the Kaiko Lighter Reference Rate

Instead of depending on direct spot token purchases by investors, BLIT tracks the Kaiko Lighter Reference Rate. As Bitwise manages the underlying token custody, investors are exposed to LIT through exchange-traded securities.

The product uses physical allocation, has an infinite maturity, and has no leverage. Investor redemption is also permitted by its structure, subject to the relevant regulatory requirements.

Flow Traders, Jane Street, Susquehanna International Securities, XTX Markets, Goldenberg Hehmeyer, Virtu Financial, and DRW Europe are among the market makers and authorised participants for BLIT that Bitwise has identified.

Staking Comes Later as Assets Grow

The staking feature is still dormant, which is the most significant detail of BLIT at launch. Even when the product's name includes the word "staking," investors are initially just exposed to LIT prices.

Staking is anticipated once the product has enough assets under management to make staking activities effective, according to Bitwise. The precise asset threshold and the activation date have not been disclosed by the corporation. Once staking starts, each ETP unit's bitcoin entitlement should reflect the daily accumulation of qualifying payouts.

As a result, the launch allows European investors to gain access to LIT through the current securities market while delaying the possible staking component.

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