Bitwise has accomplished its acquisition of Superstate’s Crypto Carry Fund (USCC), giving the asset administration firm management of a tokenized funding car that generates yield utilizing a market-neutral crypto buying and selling technique.
Bitwise introduced on Could 7 that it’s going to take over administration of the fund from Superstate because the infrastructure firm shifts its focus to its tokenized fund platform, FundOS.
The Fund is offered to eligible purchasers and seeks to generate earnings via cash-and-carry buying and selling of cryptocurrencies, a technique that captures the premium between the futures and spot costs of cryptocurrencies. The USCC token ticker and present good contracts will likely be preserved after the migration.
The fund had about $259 million in belongings below administration as of Could 29, and reported a yield of about 4%, in response to Bitwise. In keeping with the fund’s disclosures, the portfolio contains money collateral, tokenized U.S. Treasury publicity, and staked Solana (SOL), EtherFi Wrapped Ether (eETH), $XRP ($XRP).
Superstate’s web site reveals that USCC inventory helps lending and borrowing exercise on DeFi protocols together with Aave, Kamino, and Morpho.
Bitwise, a San Francisco-based crypto asset administration firm based in 2017, mentioned it manages about $11 billion in shopper belongings, together with ETFs, personal funds, individually managed accounts and staking merchandise.
Bitwise Crypto Carry Fund. sauce: tremendous state
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Tokenized lively technique funds are rising quickly
The acquisition comes amid fast progress in tokenized lively technique funds, a class that features funds associated to crypto carry buying and selling, index methods, and volatility-focused merchandise.
Belongings in tokenized lively technique funds grew from roughly $449 million in June 2025 to roughly $1.38 billion by the tip of Could 2026, a rise of greater than 200% in 12 months, in response to information from RWA.xyz.
sauce: RWA.xyz
The most important merchandise on this class embody the EU-traded Spico Amundi In a single day Swap Fund (approx. $428 million in distributions), the Mantle Index for Fund (approx. $134 million), and the Crusing Funding Restricted Partnership Fund (approx. $105 million).
Asset managers are additionally introducing actively managed crypto methods to the exchange-traded fund (ETF) market. In March, T. Rowe Value introduced that Bitcoin (BTC) and Ether ($ETH), Solana, $XRP.
The next month, Goldman Sachs filed to launch an actively managed Bitcoin Revenue ETF that might generate yield by promoting choices tied to bodily Bitcoin exchange-traded merchandise.
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