Bitwise Takes Over USCC, Paving Way for Tokenized Funds

Bitwise CIO Matt Hougan believes that every fund will eventually be tokenized, following the announcement of its deal to take over management of the $267 million Superstate Crypto Carry Fund (USCC) on June 1. The fund's name will change to Bitwise Crypto Carry Fund while retaining its USCC ticker and existing smart contracts.

The deal marks a strategic pivot for Superstate, which is stepping back from asset management to focus on its infrastructure platform, FundOS, that powers USCC under Bitwise's management. Hougan sees tokenization as the future of funds, saying 'eventually, every fund will be tokenized.'

This move aligns with other industry leaders' predictions, such as BlackRock CEO Larry Fink, who in 2025 said that the market is at the beginning of tokenization of all assets.