Bitwise Bolsters Digital Asset Portfolio with Acquisition of Superstate's USCC Fund

Bitwise is expanding its reach into the digital asset space with a strategic move into tokenized funds. The company has announced plans to take over the management of Superstate's USCC fund, which currently holds over $267 million in assets. This acquisition will not only increase Bitwise's portfolio but also mark its entry into the growing market of tokenized funds.

The renamed Bitwise Crypto Carry Fund will continue to operate on Superstate's blockchain infrastructure, utilizing a crypto cash-and-carry strategy that aims to capture the spread between spot prices and futures contracts. This approach is particularly effective in bullish market conditions, where futures contracts tend to trade at a premium.

Bitwise has emphasized its commitment to capital markets moving on-chain, with CEO Hunter Horsley stating 'Capital markets are moving onchain.' To facilitate this shift, Bitwise will continue to work with Superstate's FundOS platform, which serves as an infrastructure for tokenized investment products. Existing investors in the USCC fund will retain their current investments and will see no changes to their tokens or blockchain address.