Bitwise XRP Position Yields 14.57% Implied Yield

Bitwise Asset Management has disclosed its combined XRP position in the USCC fund, which includes 10,781,438.36 XRP held in custody and a short position of 10,510,000 September futures on Coinbase.

The disclosure shows an implied yield of 14.57% for the futures leg as of September 1, with the futures position offsetting 97.48% of the amount held in custody, leaving a long balance of 271,438.36 XRP.

Bitwise describes USCC as a fund aimed at capturing futures premiums over the spot market in crypto, and notes that the public methodology shows an implied yield of 14.57% when held to maturity or not sold before then.