USCC will seek to capitalize on basis trade opportunities, staking returns, and invest in U.S. Treasuries.
Superstate, a digital asset management company, has unveiled its Crypto Carry Fund (USCC), which offers exposure to cryptocurrency strategies through both tokenized and traditional book-entry ownership.
The goal of the USCC fund is to capitalize on the pricing inconsistencies found between the spot and futures markets, predominantly for Bitcoin and Ether. The fund’s strategy balances yield generation with risk considerations, incorporating investments in basis trade opportunities, staking returns, and U.S. Treasury securities benchmarked to the Federal Funds Rate.
USCC has been issued as an ERC-20 token on the Ethereum blockchain, providing an avenue for qualified investors to conduct peer-to-peer transactions.
“For years, the crypto cash and carry trade has been a scalable source of returns for sophisticated investors. At Superstate, we’re excited to tokenize this strategy, so that a new class of investors can access the opportunity without having to manage infrastructure and risk,” said Superstate CEO Robert Leshner.
One of the key features of the USCC fund is its fee structure — it charges a flat management fee of 0.75%, which is much lower than the fees typically associated with conventional hedge funds.
The fund also offers daily liquidity, which is a departure from the more limited redemption schedules characteristic of traditional hedge funds. In terms of regulatory compliance and investor protection, USCC uses an Ethereum-based Allowlist to regulate transfers among validated participants and is structured within a Delaware Trust to safeguard investors’ assets in the event of Superstate’s insolvency.
This latest offering follows Superstate’s introduction of a tokenized Treasury fund (USTB) in February 2024.
