TL;DR
- Superstate launches the USCC, a tokenized fund that uses the “cash and carry” strategy to capitalize on price differences between spot and futures assets for Bitcoin and Ethereum.
- The USCC fund is offered in the form of an ERC-20 token on the Ethereum blockchain as well as in non-tokenized shares.
- USCC stands out for its active management, low management fee of 0.75%, high transparency with daily net asset value calculations, and daily liquidity, operating under a Delaware trust structure.
Superstate, a renowned blockchain asset management firm, has announced the launch of its new tokenized fund, the Superstate Crypto Carry Fund (USCC). This innovative fund provides a new avenue for qualified investors to achieve returns using the “cash and carry” strategy, a tactic traditionally used in financial markets to exploit price differences between spot assets and futures.
The USCC fund is designed to capitalize on price variations between spot and futures markets for Bitcoin and Ethereum. The fund’s strategy involves buying assets in the spot market and simultaneously selling corresponding futures, aiming to take advantage of arbitrage opportunities between these two markets. This approach allows investors to obtain predictable, risk-adjusted returns while minimizing directional market exposure.
1/ Today we are excited to announce the launch of the Superstate Crypto Carry Fund (USCC).
USCC provides convenient exposure to the crypto cash & carry trade for qualified purchasers, with ownership represented in both tokenized and book-entry shares.https://t.co/QCZrWesckO
— Superstate (@superstatefunds) July 22, 2024
The USCC fund will be offered both as a tokenized form and as non-tokenized shares, with the ERC-20 token on the Ethereum blockchain representing ownership of the fund. The tokenized approach facilitates access to the fund and allows investors to use the tokens as collateral or for future settlement, thus enhancing the product’s utility.
Superstate’s offering is distinguished by its management and focus on transparency. The firm, acting as a registered advisor, will manage the fund using its deep knowledge of the crypto market and a strong network of institutional partners. Investors will benefit from a low management fee of 0.75% and high transparency with daily net asset value calculations provided by an external calculation agent.
Superstate Offers Daily Liquidity Through USCC
Additionally, USCC offers daily liquidity, unlike traditional funds that typically offer monthly or quarterly redemptions. The fund also adheres to compliance regulations, operating under a Delaware trust structure that protects assets from potential corporate claims or insolvency of the management firm.
The launch of USCC follows the debut of another tokenized fund by Superstate, focused on short-term U.S. Treasury bills. This new product aims to provide institutional investors with an additional tool to optimize liquidity and achieve consistent returns in both traditional and crypto capital markets.
