Key Takeaways
- • Bitwise Asset Management launched USCC (Bitwise Crypto Carry Fund), its inaugural tokenized fund, with over $250 million in assets under management as of the announcement date.
- • The fund targets a 30-day yield of approximately 4% through market-neutral crypto basis-trade strategies, available to qualified purchasers on platforms including Aave Horizon, Kamino, and the FundOS platform via Superstate.
- • Hunter Horsley, CEO and co-founder of Bitwise, announced the launch as part of the firm's broader expansion into tokenized investment products, complementing recent launches including the Bitwise Hyperliquid ETF (BHYP).
- • Bitwise's entry into tokenization represents institutional adoption of on-chain fund structures, positioning the $15 billion-plus asset manager to capture yield opportunities in crypto derivatives markets alongside traditional institutional investors.
Summary
Bitwise Asset Management, under the leadership of CEO and co-founder Hunter Horsley, has launched USCC, the Bitwise Crypto Carry Fund, marking the firm's entry into tokenized investment products. The fund achieved over $250 million in assets under management at launch, with subsequent filings indicating growth to $259–$267 million as of April 2026. The tokenized structure enables deployment across decentralized finance platforms, with USCC currently accessible on Aave Horizon, Kamino, and the FundOS platform operated by Superstate.
The fund employs a market-neutral crypto basis-trade strategy, a cash-and-carry approach that captures the spread between spot and futures markets without directional market exposure. USCC reports a 30-day yield of approximately 4%, targeting consistent income generation across market conditions. The fund is restricted to qualified purchasers, reflecting its positioning as an institutional-grade alternative investment product.
This launch builds on Bitwise's recent product expansion in crypto derivatives. Earlier in 2026, Horsley announced the Bitwise Hyperliquid ETF (BHYP), which provides investors with platform ownership exposure as interest in crypto derivatives platforms accelerated in U.S. capital markets. Bitwise, one of the largest crypto asset managers globally with more than $15 billion in client assets, operates a suite of over 40 investment products spanning ETFs, separately managed accounts, private funds, and hedge fund strategies.
The tokenized fund structure represents a significant shift in how institutional investors access crypto yield strategies. By deploying on decentralized platforms rather than traditional custodial structures, Bitwise enables direct on-chain settlement and potentially enhanced transparency for sophisticated investors. The move reflects broader institutional adoption of tokenized investment vehicles as regulatory clarity improves and infrastructure matures around crypto-native financial products.
The fund employs a market-neutral crypto basis-trade strategy, a cash-and-carry approach that captures the spread between spot and futures markets without directional market exposure. USCC reports a 30-day yield of approximately 4%, targeting consistent income generation across market conditions. The fund is restricted to qualified purchasers, reflecting its positioning as an institutional-grade alternative investment product.
This launch builds on Bitwise's recent product expansion in crypto derivatives. Earlier in 2026, Horsley announced the Bitwise Hyperliquid ETF (BHYP), which provides investors with platform ownership exposure as interest in crypto derivatives platforms accelerated in U.S. capital markets. Bitwise, one of the largest crypto asset managers globally with more than $15 billion in client assets, operates a suite of over 40 investment products spanning ETFs, separately managed accounts, private funds, and hedge fund strategies.
The tokenized fund structure represents a significant shift in how institutional investors access crypto yield strategies. By deploying on decentralized platforms rather than traditional custodial structures, Bitwise enables direct on-chain settlement and potentially enhanced transparency for sophisticated investors. The move reflects broader institutional adoption of tokenized investment vehicles as regulatory clarity improves and infrastructure matures around crypto-native financial products.
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