USCC

USCC

Superstate Crypto Carry Fund

USCC

As of 12/12/2024

Assets Under Management

$86.14M

NAV per Share

$10.397653

30-Day Yield 1

13.69%

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 an ERC-20 token, USCC, or book-entry recordkeeping. 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
Network details

Ethereum

Shares

3,619,928.31 (43.70%)

Allowlist

0x02f1...8a38e5

Book-Entry

Shares

4,664,186.71 (56.30%)

Fund service providers & structure

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
4

As of 12/12/2024

USDC 0.44 0.00% $0.44 0.00%
USTB 754,605.21 4.63% $7,896,047.82 8.97%
Bitcoin (Custody) 162.08 0.00% $16,548,420.46 18.80%
Bitcoin (Collateral) 123.96 0.00% $12,655,947.41 14.38%
Ether (Custody) 41.80 0.00% $165,890.42 0.19%
Ether (Collateral) 1,623.29 0.00% $6,442,853.89 7.32%
Ether (Staked) 10,080.00 2.92% $40,007,520.00 45.46%
Liquid Collective Staked Ether (lsETH) 1,014.19 3.05% $4,290,974.92 4.88%
ETH Forward 27DEC24 -10,720.00 17.88% -$42,855,344.00 -48.70%
ETH Forward 31JAN24 -600.00 15.86% -$2,432,880.00 -2.76%
ETH Forward 28MAR25 -1,301.00 14.61% -$5,382,237.00 -6.12%
BTC Forward 20DEC24 -20.00 19.45% -$2,050,440.00 -2.33%
BTC Forward 27DEC24 -220.38 17.71% -$22,661,896 -25.75%
BTC Forward 28MAR25 -30.15 14.16% -$3,204,643.50 -3.64%
BTC 100,000 Put 27DEC24 15 0.00% $115,500.00 0.13%
Portfolio 17.46%
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 Management Fee will not accrue until the Fund reaches a $50 million Net Asset Value; once reached, the management fee will accrue daily. This is not inclusive of all fees and expenses that may be incurred by investing in the Fund.

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.

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All content available on this Website is general in nature, not directed or tailored to any particular person, and is for informational purposes only. Neither the Website nor any of its content is offered as investment advice and should not be deemed as investment advice or a recommendation to purchase or sell any specific security. The information contained herein reflects the opinions and projections of Superstate as of the date hereof, which are subject to change without notice at any time. Superstate does not represent that any opinion or projection will be realized. Neither Superstate nor any of its advisers, officers, directors, or affiliates represents that the information presented on this Website is accurate, current or complete, and such information is subject to change without notice. Any performance information must be considered in conjunction with applicable disclosures. Past performance is not a guarantee of future results. Neither this Website nor its contents should be construed as legal, tax, or other advice. Individuals are urged to consult with their own tax or legal advisers before entering into any advisory contract.

Superstate is currently exempt from registration with the U.S. Securities and Exchange Commission (“SEC”) in reliance on the private fund adviser exemption under the Investment Advisers Act of 1940 (“Advisers Act”). Information about Superstate can be found by visiting the SEC website www.adviserinfo.sec.gov and searching for our firm name. Neither the information, nor any opinion expressed above should be construed as solicitation or recommendation to buy or sell a security or personalized investment, tax, or legal advice.