Global crypto asset manager Bitwise will be taking full control of Superstate’s Crypto Carry Fund (USCC), a tokenized private fund that provides qualified purchasers with exposure to crypto-based strategies.

 

The announcement, made via a Bitwise press release, will see the asset manager transition into the role of investment manager of the fund, with the fund renamed the Bitwise Crypto Carry Fund. Although Bitwise will assume management of the fund, Superstate will continue to operate the fund’s on-chain infrastructure, ensuring no disruption during the transition process.

 

 

"Capital markets are moving on-chain. It's happening fast, and tokenized investment strategies are a core part of this platform shift," said Hunter Horsley, Bitwise CEO.

 

"Traditional and crypto native institutions are increasingly using tokenized funds to benefit from their 24/7 trading, utility in decentralized finance, transparency, and efficiency. We're thrilled to join Superstate's best-in-class infrastructure with Bitwise's track record in crypto asset management to continue to expand access to the full range of opportunities for investors in crypto."

 

This partnership between Bitwise and Superstate will see Bitwise deepening its presence in the tokenized fund market, with Superstate taking a step back from tokenized fund management to focus on FundOS, its platform used to manage on-chain tokenized funds.

 

The transition is expected to be completed by June 1, 2026, with the fund’s ticker USCC remaining unchanged, as well as its smart contract and token address.

 

USCC and the Tokenized Funds Market

USCC is Superstate’s tokenized private fund that provides qualified investors exposure to crypto basis and cash and carry trading strategies, allowing them to earn yield from the persistent premium of crypto futures prices over spot prices.

 

The fund currently has assets under management exceeding $267 million, with over $100 million of the fund’s assets being deployed across notable decentralized finance platforms, including Aave and Kamino. Investors include hedge funds, venture capital firms, high-net-worth crypto users, and blockchain protocols.

 

The tokenized funds market has also grown remarkably, with the global tokenized and real-world assets market reaching $33.5 billion. The market is projected to reach $18.9 trillion by 2031 and has attracted several notable traditional finance companies, including BlackRock, Franklin Templeton, and JPMorgan.