Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Bitwise Enters Tokenized Funds With Superstate
May 8, 2026 | NCFA Market Activity | Digital Assets Blockchain And Tokenization
Image: Magnific
Crypto Asset Manager Takes Over USCC As Onchain Fund Infrastructure Grows
On May 7 2026, Bitwise announced its first tokenized fund through a partnership with Superstate. Bitwise will become investment manager of the Superstate Crypto Carry Fund, which will be renamed the Bitwise Crypto Carry Fund.
The fund keeps the USCC ticker, smart contracts, and token address, with the transition expected on June 1 2026. USCC has more than $267M in assets under management and targets yield from the crypto cash and carry trade, where futures prices trade above spot prices.
Bitwise is entering tokenized funds by taking over a live onchain product instead of launching from zero. Superstate will keep operating the infrastructure layer, including tokenized issuance and digital transfer agency services through FundOS. That separates investment management from onchain fund operations, which is exactly how institutional tokenized finance may scale.
Tokenized real world assets now exceed $30B globally, while tokenized US Treasuries have surpassed $15B, with the tokenized asset market projected to reach $18.9T by 2031.
Bitwise says it has $11B in client assets, more than 70 investment products, and serves more than 5,000 private wealth teams, RIAs, family offices and institutional investors, along with 21 banks and broker dealers. That distribution is key to scaling tokenized funds beyond only crypto native buyers. They also need access to wealth, advisory, and institutional channels.
See: Tokenization Finds Scale In Collateral And Cash
Tokenization doesn't remove traditional financial roles, but rather it rebuilds them on new rails. Fund managers, transfer agents and distribution all still matter. The difference is that settlement, ownership records, and secondary utility can now run onchain.
Talking Point
If US asset managers and infrastructure firms continue pairing regulated products with onchain fund administration, Canadian fund managers, exempt market platforms, dealers, and policymakers need to decide where tokenized funds fit into Canadian capital formation and investor access.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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