Bitwise Launches First Lighter ETP in Europe, Tracking LIT Token

The significance lies less in the token itself than in the distribution channel: wrapping a decentralized derivatives venue's token into a European ETP format lets brokerage accounts gain exposure without touching the underlying protocol directly. That matters for the competitive positioning of Lighter against Hyperliquid, since product availability can shape which venue captures mainstream flows. The open question is whether this ETP structure becomes a template other platforms pursue, or remains a one-off.