Bitwise launches its first tokenized crypto arbitrage fund, USCC

CoinFeed reported on May 7th that Bitwise Chief Investment Officer Matt Hougan announced the launch of the company's first tokenized fund, the Bitwise Crypto Carry Fund (USCC). This fund aims to generate market-neutral returns through cryptocurrency basis trading and takes over the previously managed product of the same name from Superstate, which will continue to provide the underlying technology support. Bitwise cautions that the fund is only open to accredited investors, is offered privately, and its units are not registered under the Securities Act of 1933 or the Investment Company Act of 1940. Currently, there is no redemption mechanism, and investors may face high volatility and the risk of total loss.