Bitwise Acquires Superstate’s $267 Million Crypto Carry Fund
- Bitwise will take over management of the Superstate Crypto Carry Fund (USCC) on June 1.
- The fund, which manages over $267 million in assets, employs a crypto cash-and-carry strategy.
- More than $100 million of USCC’s assets are used as collateral in DeFi protocols like Aave.
- Bitwise currently oversees $11 billion in crypto assets across various funds and ETFs.
- Tokenized funds have grown rapidly, with tokenized real-world assets exceeding $30 billion globally.
This acquisition marks Bitwise’s entry into the tokenized fund market, reflecting a broader trend among asset managers to modernize investment products through tokenization. The transition also aligns with Superstate’s shift towards its infrastructure platform for tokenized investments.
With this move, Bitwise aims to enhance its offerings while maintaining the existing structure of the USCC fund for current investors. The fund will continue operating under its original ticker and blockchain address after the takeover.(Source)
