Bitwise to Manage Superstate's $267M Crypto Carry Fund

Bitwise Asset Management announced plans to assume investment management of Superstate's Crypto Carry Fund, a tokenized fund with approximately $267 million in assets under management, on June 1, 2026. The fund, traded under the ticker USCC and available to qualified purchasers, will be renamed the Bitwise Crypto Carry Fund while retaining its existing smart contracts, token address, and blockchain infrastructure operated by Superstate.

The transition marks Bitwise's entry into the tokenized funds market. The USCC fund employs a cash-and-carry strategy, seeking yields from the price spread between spot cryptocurrency prices and futures contracts, which often trade at a premium during bullish conditions. Holdings include positions in bitcoin, ether, XRP, Solana, futures contracts, collateral assets, and U.S. Treasury securities. More than $100 million of the fund's assets currently serve as collateral in decentralized finance protocols, including Aave and Kamino. Subscriptions and redemptions are supported in U.S. dollars or USDC, with daily liquidity.

Existing investors, which include hedge funds, venture funds, corporations, protocols, and high-net-worth individuals, will...