Bitwise Launches Crypto Carry Fund: First Tokenized Fund Targeting Spot-Futures Spread
May 07, 2026
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| Bitwise Asset Management has officially entered the tokenized fund space with the launch of the Bitwise Crypto Carry Fund, marking the company's first foray into on-chain fund infrastructure. |
The fund was transitioned to Bitwise from Superstate, the tokenized asset firm, with Bitwise taking over full operational control. The strategy is designed to capture the spread between cryptocurrency spot prices and futures prices — a yield-generating approach commonly known as a carry trade in traditional finance.
What Is a Crypto Carry Strategy?
A crypto carry fund profits from the premium that futures contracts trade at relative to spot prices a condition known as contango. When futures prices are higher than spot prices, funds can simultaneously hold the underlying asset and short the futures contract, locking in the difference as yield.This strategy is largely market-neutral, meaning returns are not dependent on whether Bitcoin or other crypto assets go up or down in price.
Why This Matters
The launch signals growing institutional appetite for tokenized investment vehicles that combine traditional finance strategies with blockchain-based fund architecture.
Tokenized funds offer benefits such as faster settlement, programmable compliance, and around-the-clock liquidity compared to conventional fund structures.
Bitwise, already one of the leading crypto asset managers in the United States, expanding into tokenized funds positions the firm at the intersection of TradFi yield strategies and DeFi infrastructure one of the fastest-growing sectors in digital assets in 2025 and 2026.
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