tl;dr
Superstate has launched a new tokenized fund that will yield returns based on the "cash and carry" investment strategy. The USCC token, an ERC-20 token on the Ethereum blockchain, will generate yield by buying spot bitcoin and ether and taking an equal size of short positions of, or selling, bitcoin...
Superstate has launched a new tokenized fund that implements a "cash and carry" investment strategy, offering returns for qualified investors. The fund, represented by the USCC token on the Ethereum blockchain, generates yield by purchasing spot bitcoin and ether and taking short positions or selling bitcoin and ether futures. This strategy aims to maintain a delta-neutral position, profiting from the market without directional bets on price changes, thus reducing risk.
The fund targets qualified investors to comply with U.S. securities laws and operates as a series of a Delaware Trust—a bankruptcy-remote entity from Superstate. Partnering with prime brokerage companies for futures trades execution, the fund holds spot assets at custodial partner Anchorage Digital. Superstate's CEO, Robert Leshner, has emphasized that this is a highly-regulated product with lower risks but offering lower returns. This new offering follows the company's successful tokenized fund debut earlier this year, which primarily holds short-term U.S. Treasury bills and has amassed nearly $80 million of assets.
More about CME Group Inc
CME Group Inc. (Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, The Commodity Exchange) is an American global markets company. It is the world's largest financial derivatives exchange, and trades in asset classes that include agricultural products, currencies, energy, interest rates, metals, stock indexes and cryptocurrencies futures.
Industry: FINANCE, SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES
Market Cap: 71958995000
Current Price: 22.79
PE Ratio: 4.45
EPS: 8.77
Dividend Yield: 15.64
Beta: 0.569
Volume: 5615500000
52-week Range: 221.92
Price Change (1 year): -0.033
Price Change (YTD): 0.032