Bitwise enters tokenized funds via Superstate’s crypto carry vehicle

Bitwise enters tokenized funds via Superstate’s crypto carry vehicle

Bitwise plans to take over Superstate’s tokenized crypto carry fund as demand for actively managed onchain investment products continues to grow.

Bitwise Asset Management plans to take over management of Superstate’s tokenized crypto carry fund, marking the crypto asset manager’s entry into tokenized investment products.

The fund, currently called the Superstate Crypto Carry Fund (USCC), seeks to generate yield through crypto cash-and-carry trades, which involve capturing the premium between spot crypto prices and futures contracts. The fund is available to qualified purchasers and is expected to be renamed the Bitwise Crypto Carry Fund after the transition closes on June 1.

Superstate said it will step back from fund management to focus on FundOS, its infrastructure platform for tokenized funds, while Bitwise assumes investment management responsibilities for USCC. The company will continue operating the fund’s onchain infrastructure, including token issuance, transfer agency services and smart contracts.

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