Bitwise Crypto Carry Fund Yield Hits Nearly 6% Amid Basis Expansion

The Bitwise Crypto Carry Fund has seen its yield rise to nearly 6% as of August 25, up from around 4% just a couple of months ago. This increase coincides with a widening futures basis across major crypto assets.

The fund's yield is generated through a market-neutral strategy that involves buying spot assets and shorting corresponding futures contracts. The spread between spot and futures prices is where the money comes from, allowing investors to profit without needing to predict price movements.

The Bitwise Crypto Carry Fund holds a portfolio of major digital assets including Bitcoin, Ether, Solana, and XRP on the long side, while simultaneously shorting the corresponding futures contracts. To layer additional yield on top of this basis capture, the fund also holds positions in liquid staking and restaking tokens like EtherFi's wrapped eETH (weETH) and JitoSOL.

The fund currently manages $137.70 million in assets, with a net asset value of $11.708927 per share. Bitwise charges a management fee of 0.75%, and the minimum investment sits at $100,000, restricted to qualified purchasers. Daily liquidity is available.