Bitwise fund posts 5.9% annualised return

• Bitwise’s USCC market-neutral crypto fund posted a 5.9% annualised return over 30 days.
• The fund benefited from a wider gap between crypto spot and futures prices.
• Its assets under management have reached about US$137.7 million since June.

Bitwise’s USCC market-neutral crypto fund posted a 5.9% annualised return over the past 30 days.

The fund uses a cash-and-carry strategy involving spot crypto and futures contracts.

It buys assets such as Bitcoin and Ethereum while selling futures contracts to capture the price difference.

The recent rise in futures premiums widened this gap and helped the fund generate higher returns.

The strategy also uses liquid staking assets, including weETH and JitoSOL, to generate additional yield.

Bitwise acquired management rights to the tokenised fund from Superstate in June, according to the report.

The fund has since attracted about US$137.7 million in assets under management, while returns can change with market conditions.