Bitwise Takes Over Superstate's $267 Million Crypto Carry Fund

The Superstate Crypto Carry Fund (USCC) is a tokenized fund for qualified purchasers that seeks to capture the basis spread by buying cryptocurrencies in the spot market and selling higher-priced futures. Bitwise's takeover marks the firm's first move into onchain tokenized funds. Bitwise manages about $11 billion in client assets, and the transaction also reflects institutional demand for such products.

Bitwise and Superstate announced the handover on May 7, 2026, and completed it on June 1. The fund's assets declined from $267 million to $259 million as of May 29. It yields about 4% and charges a 0.75% management fee. Renamed the Bitwise Crypto Carry Fund, it retains the USCC ticker and onchain structure, while Superstate continues to provide infrastructure.