TL;DR:
Issuer and assets: 21Shares added exchange-traded products linked to the LIT (Lighter) and VVV (Venice Token) tokens to its European lineup.
Trading venues: The vehicle tracking LIT began trading on Deutsche Börse Xetra (Germany), while the instrument tracking VVV debuted on SIX Swiss Exchange (Switzerland).
Structure and costs: Both instruments are directly physically backed by the underlying assets and carry an annual management fee of 2.50%.
Swiss asset manager 21Shares announced the addition of two new crypto ETPs physically backed by the digital assets LIT and VVV on stock exchanges in Germany and Switzerland.
With this launch, 21Shares expands its range of regulated products to provide institutional exposure to decentralized infrastructure and artificial intelligence models without requiring direct custody of private keys.
The new product, named the 21Shares Lighter ETP —under the ticker LIHT —tracks the price of LIT. This asset serves as the native token of the Lighter protocol, a decentralized exchange specialized in perpetual futures contracts covering cryptocurrencies, traditional currencies, and commodities.
Meanwhile, the 21Shares Venice Token ETP , trading under the ticker VENC , tracks the performance of VVV. This asset underpins Venice, an artificial intelligence platform focused on computational privacy that does not retain user activity logs.
The structure chosen by the firm maintains direct physical custody. This means the issuing entity purchases and holds the corresponding tokens in institutional vaults in direct proportion to the shares in circulation.
Both investment vehicles apply an annual management fee of 2.50%. This fee is periodically deducted from the net asset value under management for each fund.
Listing on tier-one exchanges facilitates traditional brokerage access. Qualified and retail investors can route buy and sell orders through conventional financial intermediaries and local brokerage accounts.
Technical Structure and Differentiation of the Underlying Assets
In the case of the Lighter protocol, its technical architecture executes derivatives orders through a high-performance on-chain order book. Official documentation indicates that the system aims to match the execution speed of centralized platforms while maintaining decentralized settlement.
Data from the decentralized exchange points to integrations with consumer wallets. According to the company’s technical reports, these developments aim to connect decentralized finance liquidity with globally reaching commercial platforms.
Regarding Venice , the project implements an economic model tied to the usage of inference services. The protocol allocates a percentage of the revenue generated by paid subscriptions toward conducting periodic buybacks and burns of VVV.
Additionally, documentation for the Venice project establishes a schedule featuring a planned 86% reduction in emissions of new tokens. Market analysts suggest that this technical measure is aimed at controlling circulating supply as demand for private compute matures.
The simultaneous rollout in Frankfurt and Zurich supports 21Shares’ regional expansion strategy. The asset manager has brought to market more than 40 exchange-traded vehicles geared toward the digital asset ecosystem within the European legal framework.
Europe’s regulatory landscape continues to take shape under the MiCA framework . Industry specialists observe that ETP structures have allowed asset managers to route liquidity into specific altcoin segments ahead of definitive regulatory harmonization.
Initial liquidity across these instruments will depend on designated market makers’ activity. Market data gathered during the opening hours of trading shows that bid-ask spreads for LIHT and VENC remain within the boundaries mandated by Xetra and SIX Swiss Exchange.
Regarding governance and the token vesting schedule, the Lighter protocol has a token unlock event slated for December 30, 2026, comprising 42.36 million LIT token s. Market participants will monitor how the exchange-traded product reacts leading up to that operational date on the order book.
