Bitwise completes takeover of Superstate's $259M crypto carry fund

Bitwise has officially assumed management of the $259 million Crypto Carry Fund (USCC) from Superstate, marking a significant consolidation in the tokenized active-strategy market. The fund utilizes market-neutral crypto cash-and-carry trades to capture premiums between futures and spot prices, while maintaining exposure to tokenized Treasurys and digital assets like staked Solana and eETH. Superstate initiated this transfer to pivot its strategic focus toward its FundOS tokenized fund platform. The USCC fund retains its existing ticker and smart contracts, ensuring continuity for qualified purchasers who utilize the token on DeFi protocols such as Aave, Kamino, and Morpho. This acquisition highlights the rapid expansion of the tokenized active-strategy sector, which grew from $449 million to $1.38 billion in assets between June 2025 and May 2026. As major asset managers like Bitwise integrate these vehicles, the move underscores a broader institutional trend toward bringing complex, yield-generating crypto strategies on-chain. The transition reflects the increasing maturity of RWA infrastructure, where specialized managers are scaling successful tokenized products to meet rising investor demand.