Bitwise Takes Over Superstate’s $259M Crypto Carry Fund
- Bitwise completed the acquisition of Superstate’s Crypto Carry Fund (USCC) on May 7, managing approximately $259 million in assets.
- The fund employs market-neutral crypto trading strategies to generate yield, reporting around a 4% yield as of May 29.
- The portfolio includes staked Solana (SOL), EtherFi’s wrapped Ether (eETH), and XRP (XRP), along with cash collateral and tokenized Treasurys exposure.
- USCC shares are supported on DeFi protocols such as Aave, Kamino, and Morpho for borrowing and lending activities.
- Tokenized active-strategy funds have seen growth from $449 million in assets in June to about $1.38 billion by May, marking an increase of over 200%.
This takeover highlights the increasing interest in tokenized funds that utilize innovative trading strategies within the cryptocurrency market. As Bitwise manages around $11 billion across various products, this acquisition positions them prominently in the evolving landscape of digital asset management.
With approximately $259 million under management and a reported yield of around four percent, Bitwise’s Crypto Carry Fund exemplifies the growing trend towards tokenized investment vehicles in DeFi. (Source)
