USCC
Overview
As of 05/09/2025
Assets under management
$130.82M
NAV per share
$10.761132
30-Day yield 1
6.97%
Management fee 2
0.75%
The Superstate Crypto Carry Fund (the "Fund") offers Qualified Purchasers access to
crypto basis (differential between the spot and future price) strategies. The Fund
optimizes the yield and risk of crypto cash-and-carry trades across the Bitcoin basis,
Ether basis (including staking Ether), and U.S. Treasury securities. Ownership in the
Fund is recognized by USCC, held either as a token or in book-entry record keeping.
Subscriptions and redemptions are facilitated through USD or USDC, with liquidity each
market day. 3
For more information on the mechanics behind USCC see our Documentation
Historical data
Networks
This fund can be held on multiple networks or as a book-entry share.
DeFi protocols
This fund can be deployed into DeFi protocols.
Key facts
Custodian | Anchorage Digital |
Auditor | Ernst & Young LLP |
NAV Calculation Agent | NAV Fund Services |
Investment Manager | Superstate Inc. |
Domicile | United States |
Structure | The Fund is a series of a Delaware Statutory Trust |
Eligible Investors | Qualified Purchasers in supported jurisdictions |
Holdings
4As of 05/08/2025
| Asset | Quantity | Implied Yield | Notional Value | Portfolio % |
|---|---|---|---|---|
| USD (Collateral) | 29,622,751.00 | 0.00% | $29,622,750.65 | 25.02% |
| USTB | 789,093.29 | 4.33% | $8,393,399.92 | 7.09% |
| stUSR | 10.03 | 0.00% | $10.03 | 0.00% |
| Bitcoin (Custody) | 16.30 | 0.00% | $1,653,763.72 | 1.40% |
| Bitcoin (Collateral) | 13.21 | 0.00% | $1,340,551.12 | 1.13% |
| Ether (Custody) | 601.48 | 0.00% | $1,276,332.93 | 1.08% |
| Ether (Collateral) | 667.76 | 0.00% | $1,416,986.72 | 1.20% |
| Ether (Staked) | 5,184.00 | 2.96% | $11,000,448.00 | 9.29% |
| Solana (Custody) | 0.16 | 0.00% | $26.10 | 0.00% |
| Solana (Collateral) | 0.00 | 0.00% | $0.00 | 0.00% |
| Solana (Staked) | 13,506.58 | 8.27% | $2,188,065.93 | 1.85% |
| Liquid Collective Staked Ether (lsETH) | 26,882.96 | 3.26% | $61,513,441.00 | 51.95% |
| ETH Future MAY25 (CME) | -21,100.00 | 11.12% | -$44,985,200.00 | -37.99% |
| ETH Future JUN25 (CME) | -10,650.00 | 11.85% | -$22,865,550.00 | -19.31% |
| ETH Forward 27JUN25 | -3,338.80 | 6.59% | -$7,117,920.94 | -6.01% |
| BTC Future MAY25 (CME) | -30 | 8.41% | -$3,059,790.00 | -2.58% |
| BTC Forward 27JUN25 | 10 | 6.26% | $1,027,457.20 | 0.87% |
| SOL Future MAY25 (CME) | -13,500.00 | 12.44% | -$2,192,400 | -1.85% |
| Portfolio | 9.73% |
Disclaimers
Past performance does not guarantee future results.
The Superstate Crypto Carry Fund ("USCC") will be limited to Investors that meet certain
criteria. Investors will be required to provide certain personal and financial information
before eligibility to participate in this offering is determined. The information gathered
is to ensure compliance with applicable laws including anti-money laundering as well as
"qualified purchaser" status, as defined under the Investment Company Act of 1940, and
"accredited investor" status, as defined under the Securities Act of 1933. No investment
should be made until all Fund Offering Documents, which are available upon request, are
thoroughly reviewed and understood.
1 30 Day Yield is reflective of the accrued net income from the Fund's underlying holdings over the past thirty days divided by the average outstanding shares for that same period, divided by the last calculated NAV of the Fund, and then annualized. This 30 Day Yield calculation is inclusive of fees and expenses, which are not accrued until the Fund reaches a $50 million Net Asset Value. The return of the Fund's underlying holdings are variable and will vary.
2 The management fee and other expenses that may be incurred by investing in the Fund will accrue daily.
3 The facilitation of USDC facilitation to USD is done through a third party. Daily liquidity facilitated through USDC is subject to risks as outlined within the Fund Offering Documents.
4 Portfolio holdings are shown as of the date indicated and are unaudited. As provided: Quantity is the number of the corresponding asset (shares, contracts, etc.); Implied Yield is the annualized yield of the respective holdings if held until maturity, or otherwise not sold; Notional Value is the Quantity multiplied by the Asset's last provided price; Portfolio % is the percentage that each Asset's Notional Value comprises of the overall Fund Assets. As detailed within the Fund Documents it is within the Investment Manager's discretion on whether to buy, hold, or sell an asset and portfolio holdings will change. The provided data is not indicative of future portfolio composition and is not intended to, and does not constitute a recommendation.