Bitwise to Manage $278M Tokenized Fund USCC

Bitwise Asset Management will assume investment management of the Superstate Crypto Carry Fund (USCC), a tokenized crypto carry fund with $277.8 million in assets, effective June 1, 2026. The vehicle will be renamed the Bitwise Crypto Carry Fund while retaining the USCC ticker, the existing smart contracts and its on-chain token address.

USCC is available to qualified purchasers and seeks yield from cash-and-carry trades that capture the spread between spot and futures prices for bitcoin, ether, XRP and Solana. Fund holdings include those basis positions as well as other crypto-related exposures, futures contracts, collateral assets and U.S. Treasury securities. Ownership will be recorded either through the USCC token or via book-entry records.

Subscriptions and redemptions will be accepted in U.S. dollars or the stablecoin USDC, with liquidity provided each market day. After closing, Bitwise will assume full investment management responsibilities. Superstate will step back from day-to-day fund management and continue to operate FundOS, the platform that records tokenized ownership and processes transaction flows, and will remain the provider of the on-chain rails that settle transfers.

In a statement, Bitwise described the vehicle as “our inaugural tokenized fund,” adding that the arrangement combines its asset management capabilities with Superstate’s on-chain infrastructure. Superstate confirmed the June 1, 2026 transition and its continued role powering the on-chain rails.

Bitwise manages about $11 billion in client assets across more than 70 products, including exchange-traded funds, separately managed accounts, private funds, hedge fund strategies and staking offerings. Its clients include private wealth teams, registered investment advisers, family offices, institutions, banks and broker-dealers. Current USCC investors include crypto-native hedge funds, venture funds, corporations, vaults, high-net-worth individuals and protocols.

The transition preserves the fund’s existing smart contracts and token address to maintain continuity for holders and on-chain integrations. Bitwise intends to offer daily liquidity either through the USCC token or by traditional settlement methods.