Overview
- Bitwise launched the Bitwise Lighter Staking ETP (BLIT) on Sept. 23 and listed it on Deutsche Börse Xetra under ISIN DE000A4AV9T5 with 202,594 units outstanding and about $4.74 million in assets under management.
- BLIT is physically replicated and backed by roughly 1.01 million LIT held in cold storage, and it carries an annual total expense ratio of 0.85% as an issuer‑registered product from Bitwise Europe GmbH.
- Staking of the underlying LIT is not active; Bitwise says staking will begin only after BLIT reaches a sufficient AUM level but has not disclosed the required threshold or a start date, and any rewards would be reflected in unit crypto exposure once enabled.
- At launch BLIT’s holdings are a small share of LIT’s market capitalization, so the product’s immediate effect on token supply and price is limited, though larger inflows could increase demand for on‑chain LIT.
- The listing builds on Bitwise’s strategy of turning on‑chain platform tokens into regulated ETPs and gives retail and institutional investors a way to gain LIT exposure through brokerage accounts without holding private keys, while still exposing them to crypto volatility and custody‑tracking risks.