Bitwise is set to take over management of Superstate’s $267 million Crypto Carry Fund, marking its entry into the tokenized funds market. The transition is expected to be completed on June 1, according to a statement released on Thursday.

Once finalized, the Superstate Crypto Carry Fund (USCC) will be renamed the Bitwise Crypto Carry Fund, while keeping the same ticker, token address and smart contracts.

Bitwise expands into tokenized investment products with USCC

The fund is designed for qualified investors and generates returns through crypto cash-and-carry trades. The strategy profits from the gap between spot crypto prices and their futures contracts.

“Capital markets are moving onchain. It’s happening fast, and tokenized investment…