Superstate's Tokenized Fund Offers Exposure to Spot BTC and ETH with Futures Hedge

IconCryptoNewsTerminal Staff22 Jul, 2024

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Superstate's Tokenized Fund Offers Exposure to Spot BTC and ETH with Futures Hedge

Superstate, an asset management firm that leverages blockchain technology, has launched a tokenized fund called USCC. This fund offers investors exposure to spot Bitcoin (BTC) and Ether (ETH) while hedging the exposure with an equal-sized short position in futures contracts. The USCC fund is designed to be a low-risk, low-yield product that complies with regulatory requirements. Custody of the purchased spot crypto assets is held by Anchorage Digital, a reputable crypto custody and banking firm. In addition, Superstate has partnered with a prime broker to provide liquidity and risk management services for the fund. This launch marks Superstate's second tokenized fund. In February, the firm launched a tokenized fund backed by U.S. Treasury bonds (USTB). By offering a fund that combines spot exposure with futures hedging, Superstate is providing investors with a new way to gain exposure to cryptocurrencies within a regulated environment.

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