Active Strategies8.0Jun 1
Bitwise Completes Takeover of $259M USCC Tokenized Crypto Fund
◆ AI SignalActive StrategiesGemini
Bitwise Asset Management has officially assumed control of the $259 million USCC tokenized fund, previously known as the Superstate Crypto Carry Fund. This transition shifts investment management responsibilities to Bitwise, while Superstate continues to provide the underlying on-chain infrastructure through its FundOS platform. The USCC fund utilizes a market-neutral crypto basis strategy, capturing yields from the premium of cryptocurrency futures relative to spot prices. Currently offering a 4% annualized return, the fund is accessible to qualified purchasers including hedge funds, venture firms, and corporate vaults. This move highlights the growing trend of established asset managers integrating tokenized infrastructure to offer institutional-grade crypto yield products. By leveraging blockchain for record-keeping and settlement, the fund aims to provide greater transparency and efficiency compared to traditional investment vehicles. The collaboration underscores a strategic division of labor where Bitwise focuses on investment strategy while Superstate maintains its role as an infrastructure provider and initial sub-adviser.
Key points
- ▸Bitwise acquired the $259 million USCC tokenized fund from Superstate.
- ▸USCC employs a crypto basis strategy yielding 4% annually with 0.75% fees.
- ▸Superstate continues providing FundOS infrastructure and serves as initial sub-adviser.
- ▸The fund is restricted to qualified purchasers, including institutions and wealthy individuals.
Background
Superstate is a fintech company that develops on-chain infrastructure for tokenized funds, specifically through its FundOS platform. The company focuses on bridging traditional asset management with blockchain technology by providing SEC-registered transfer agency functions and issuance services. Their infrastructure allows investment managers to offer tokenized versions of financial products to institutional investors.
AI-generated summary — read the full article at the source for complete details.
Relevance
8/10
#Bitwise#Superstate#USCC#TokenizedFunds#CryptoBasis