Bitwise is set to acquire Superstate’s $267 million USCC fund, marking its entry into the tokenized fund market. The fund will be renamed the Bitwise Crypto Carry Fund and will continue to operate on Superstate’s blockchain infrastructure.
Bitwise will assume investment management responsibilities for the Superstate Crypto Carry Fund, known as USCC, starting June 1. The fund, which manages over $267 million in assets, provides qualified investors with exposure to a crypto cash-and-carry strategy. More than $100 million of its assets are utilized as collateral in decentralized finance protocols like Aave and Kamino.