Bitwise takes over $267M tokenized crypto fund, expands into DeFi

Bitwise will manage Superstate’s $267M tokenized Crypto Carry Fund, rebranding it and keeping Superstate’s blockchain support. The fund uses a cash-and-carry strategy and deploys assets on DeFi platforms.

Bitwise is set to assume management of Superstate’s $267 million tokenized Crypto Carry Fund (USCC) on June 1, marking its debut in the tokenization market. The fund will be rebranded as the Bitwise Crypto Carry Fund, while Superstate will continue to provide blockchain infrastructure and token services. The USCC fund utilizes a crypto cash-and-carry strategy, aiming to profit from the spread between spot and futures prices, especially in bullish markets. Over $100 million of the fund’s assets serve as collateral on DeFi platforms such as Aave and Kamino. The transition will maintain the fund’s ticker, smart contracts, and token address, ensuring no disruption for existing investors. This move supports Bitwise’s broader strategy to expand its $11 billion portfolio by embracing tokenized assets and deepening integration with the DeFi ecosystem. Meanwhile, Superstate will focus on scaling its FundOS tokenization platform, reflecting the growing institutional demand for tokenized investment products and the rapid global expansion of tokenized real-world assets.