Key Highlights
- Bitwise has officially taken over management of the USCC tokenized crypto carry fund from Superstate.
- Superstate will continue supporting USCC through its FundOS infrastructure platform.
- USCC offers qualified investors on-chain access to a tokenized institutional crypto strategy.
Bitwise Asset Management, a digital asset manager, today launched the Bitwise Crypto Carry Fund (USCC) after taking charge from the Superstate Crypto Carry Fund. The transition was announced in a joint statement from Bitwise Asset Management and Superstate, a fintech company.
According to the official announcement, Bitwise will now oversee the fund’s investment strategy. USCC is a tokenized fund that can be accessed by qualified purchasers. The fund intends to earn yields via a crypto cash and carry trade that will use the premium of cryptocurrency futures prices relative to spot prices.
Fund’s AUM totals over $259 million
The announcement noted that the fund has assets under management totaling over $259 million. It has an annualized return of 4% and charges a management fee of 0.75%. Its investors consist of hedge funds, venture funds, companies, vaults, wealthy individuals, and protocols.
Hunter Horsley, CEO of Bitwise, commented on the development, stating, “Completing this transition is a meaningful milestone for Bitwise and for our investors. The Bitwise Crypto Carry Fund gives institutions a smarter way to put capital to work in crypto, capturing real yield through the basis trade, with the transparency and accessibility that only tokenized infrastructure can offer.”
He added, “We have long believed that on-chain funds represent the future of asset management, and now we are running one. We’re grateful to the Superstate team for building the infrastructure that made this possible.”
USCC was originally created by Superstate Inc. in 2024, which has been taken over by Bitwise now. Bitwise is managing the fund’s investment management, while Superstate will continue with on-chain infrastructure provision using its platform FundOS, which includes issuing and SEC-registered transfer agency functions.
Superstate will be serving as the sub-adviser to the fund for 120 days initially. The initial announcement for the transition was made by Bitwise on May 7.
Launch of Bitwise Canton ETP
In a separate development, Bitwise Europe recently launched the Bitwise Canton ETP (Ticker: BWCC), which offers exposure to Canton Coin (CC), the native cryptocurrency of Canton Network, via an exchange-traded product. The listing took place on May 26, 2026, at Deutsche Börse’s Xetra.
The ETP is physically backed and stores the CC tokens in cold storage, enabling qualified investors to access them via traditional brokerage accounts without having to handle cryptocurrencies themselves. The underlying index of this ETP is the Kaiko CANTO Reference Rate LDNLF with a TER of 0.85% p.a.
Challenges amid ongoing regulatory developments
The move comes against the backdrop of continued development of digital asset regulations and markets. The tokenized funds seek to blend traditional investment techniques with the blockchain-based approach, thereby bringing the advantages of faster settlement and enhanced transparency in record keeping.
These new products will nevertheless have to contend with risks associated with cryptocurrencies, such as price fluctuations, legal uncertainties, and operational issues. The performance of this new fund will be watched closely by experts within the industry, especially its ability to provide consistent returns.
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