Crypto asset manager Bitwise is making its first big move into tokenized investment products by planning to take over Superstate’s crypto carry fund, a market that has grown quickly in recent years. It will assume investment management responsibilities for the Superstate Crypto Carry Fund (ticker: USCC) starting June 1. The fund currently manages more than $267 million in assets and will be renamed the Bitwise Crypto Carry Fund while continuing to operate on Superstate’s blockchain infrastructure.
The fund uses a “cash-and-carry” trading strategy, aiming to profit from the difference between spot crypto prices and futures contracts. Some of its assets are also used in decentralized finance protocols like Aave and Kamino, positioning it in the digital asset space, attracting both crypto-native companies and traditional asset managers. Firms such as BlackRock and Franklin Templeton have already introduced blockchain-based treasury and money-market products.
With tokenization, investors can own blockchain-based tokens that settle in real time and can be used in decentralized finance apps. Supporters think this could modernize capital markets by making transfers easier and cutting settlement delays.
Bitwise CEO Hunter Horsley said the shift is part of a bigger trend, with both traditional and crypto companies moving more financial products on-chain.
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