Bitwise to take over Superstate's $267 million crypto fund

Techub News, according to CoinDesk, cryptocurrency asset management firm Bitwise plans to take over Superstate's $267 million Superstate Crypto Carry Fund (USCC) on June 1, renaming it the Bitwise Crypto Carry Fund while retaining Superstate's blockchain infrastructure.

The fund employs a "cash-and-carry" strategy to profit from the spread between spot and futures prices. This marks Bitwise's first entry into the tokenized fund market, and Superstate will shift its focus to the FundOS platform. Currently, the global tokenized real-world asset market has exceeded $30 billion.