Bitwise’s Crypto Carry Fund, trading under the ticker USCC, generated a 5.9% annualized return over the past 30 days as futures premiums widened amid bullish crypto-market sentiment. The market-neutral fund uses a cash-and-carry strategy, buying spot assets such as Bitcoin, Ether, Solana and XRP while shorting corresponding futures contracts to capture the spread when futures trade above spot prices. It also holds liquid staking assets including EtherFi’s wrapped eETH (weETH) and JitoSOL, adding yield while introducing smart contract, lock-up and slashing risks. USCC manages $137.70 million, has a net asset value of $11.708927 per share and charges a 0.75% management fee. The minimum investment is $100,000, access is restricted to qualified purchasers and daily liquidity is available. Superstate launched the tokenized fund in July 2024, and Bitwise Asset Management assumed management on June 1, 2026. Shares are represented as on-chain tokens across Ethereum, Plume and Solana, supporting integration with decentralized finance protocols. Assets under management were roughly $259 million in early June 2026 before falling to the current level. The recent return compares favorably with short-term U.S. Treasury yields of about 4% to 5%, but it is not guaranteed and can decline or disappear if the basis compresses or turns negative into backwardation. The fund’s structure highlights growing institutional interest in crypto yield strategies that seek to avoid directional market exposure, although basis, staking, operational, regulatory and technology risks remain.