{"CUSHY":{"instrument_id":13,"instrument_symbol":"CUSHY","instrument_domain":"Funds","instrument_name":"Coinbase Tokenized Stablecoin Yield US Feeder Fund LTD","nickname":"Coinbase USD Stablecoin Yield Fund","logo":"https://assets.superstate.com/instruments/logos/8a60c0647d86.png","description":null,"created_at":"2026-05-13T23:03:09.933707Z","allowlist_type":"Private","cusip":null,"issuer_entity_id":2345,"issuer_entity_name":"Coinbase Asset Management, LLC","deploy_status_by_chain":{"by_chain":{"900":{"type":"Completed","token_address":"HSWt2izBvgNnxG982DcsysGikDnrgSq3EAWMYCSMGziP","deploy_transaction_hash":"3nNZxgsBJ14u1v2w6DHgp59NDn2Niop1DfP2cRQscpu1RmLy2kk41A8gnGYdT5P8EC18VTdgs4fnbbPQWYwUgv4d","deployed_contract_address_created_at":"2026-05-13T23:12:21.082965Z"},"8453":{"type":"Completed","token_address":"0x140C50f6dB6932DC5758937c05122b7881C57F8C","deploy_transaction_hash":"0x66a9de13fc6ae76d8013e9ad494e40d94fad6079d976422e3ed98329faf377e3","deployed_contract_address_created_at":"2026-08-05T19:12:55.288668Z"}}},"fund_redemption_addresses_by_chain":{"900":"2u8YwJTykTreziHBN5QwE7Bi2SyN8M2MicCscthtph9E","8453":"0x140C50f6dB6932DC5758937c05122b7881C57F8C"},"equity_burn_addresses_by_chain":null,"total_supply":"269804.135411","circulating_supply":"269804.135411","has_active_dip_market":false,"current_price":null,"features":{"is_announced":true,"is_token_enabled_any_chain":false,"is_trade_enabled_any_chain":false,"is_featured_on_frontend":true,"is_in_nav_menu":false,"is_minting_enabled":true,"updated_at":"2026-06-10T13:48:09.928205Z"},"capabilities":{"onboarding":{"self_serve_enabled":false,"manual_shareholder_onboarding_enabled":true,"fund_admin_contact":"https://cbam.coinbase.com/contactus"},"purchase":{"self_serve_enabled":false}},"fund_configuration":{"distributions_enabled":false,"nav_pricing_type":"Monthly","wire_instructions":null,"nav_source":"SftpAccounting","superstate_manages_redemptions":false,"redemption_frequency":"quarterly","has_subscription_nav_per_share":false,"manual_subscriptions_allowed":true,"base_currency":{"instrument_id":11,"symbol":"USD"}},"marketing_metadata":{"status":"Public","go_live_at":"2026-08-14T18:26:54.697962Z","about_text":"CUSHY seeks to generate yield from high-quality stablecoin private credit, direct lending, and tokenized credit opportunities. CUSHY targets yield similar to the Secured Overnight Financing Rate SOFR + 400-700bps+. While the strategy may expand over time, the credit exposure primarily comes from three core areas, including: Liquid Public Credit; Senior Secured, Direct Lending & Asset Backed Finance; and Opportunistic Credit & Structural Alpha.","hero_image_url":"https://assets.superstate.com/images/2026/04/20/og-cushy.jpg","og_image_url":"https://assets.superstate.com/images/2026/04/20/og-cushy.jpg","historical_chart_color_token":null,"cta_primary_text":"Register","cta_primary_url":"https://cbam.coinbase.com/contactus","cta_secondary_text":"Learn more","cta_secondary_url":"https://cbam.coinbase.com/cushy-details","cta_body_text":"Register to access tokenized shares of Coinbase USD Stablecoin Yield Fund. Follow the instructions provided by the issuer or fund administrator to complete onboarding.","fee_display":"0.75%","tradingview_symbol":null,"issuer_homepage_url":null,"disclosures":null,"supplemental_key_fact_rows":[{"name":"Documentation","link_label":"Read more →","link_href":"https://docs.superstate.com/investors/tokenized-funds/available-funds/coinbase-cushy"},{"name":"Custodian","value":"Coinbase Custody Trust Company, LLC and other qualified custodians"},{"name":"Auditor","value":"Deloitte & Touche Chartered Accountants"},{"name":"Investment manager","value":"Coinbase Asset Management, LLC"},{"name":"Fund administrator","value":"Northern Trust Global Fund Services Cayman Limited"},{"name":"Transfer agent","value":"Superstate Services LLC"},{"name":"Domicile","value":"Cayman"},{"name":"Structure","value":"506(c) -- Open-ended"},{"name":"Eligible investors","value":"US UBO, Qualified Purchasers, Non-US UBOs qualified per their jurisdiction"},{"name":"Website","link_label":"cbam.coinbase.com","link_href":"https://cbam.coinbase.com/"},{"name":"Subscription timing","value":"Monthly"},{"name":"Redemption timing","value":"Quarterly"}],"feature_rows":null,"disclaimers":[{"kind":"paragraph","text":"Prospective investors must review the full final offering documents before investing. Virtual currencies are highly volatile with unique risks. Past performance does not guarantee future results. Target and net returns (quoted as a spread over SOFR) are hypothetical, illustrative, and may not be achieved. Third-party projections included herein and in linked materials are estimates only; Coinbase Asset Management does not guarantee this growth. CME Reference Rates (BRR) align with the 4PM NY cutoff."},{"kind":"paragraph","text":"Target returns are hypothetical and presented for illustrative purposes only. Hypothetical results have inherent limitations: they are prepared with hindsight, do not involve financial risk, and cannot account for the emotional or market factors of actual trading. No representation is made that any account will achieve similar profits or losses; actual results often differ sharply. NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. Private Credit opportunities are evaluated by managers with 30+ years of experience. Do not base investment decisions on forward-looking statements. See fund documents for a full description of risks."},{"kind":"paragraph","text":"Net returns account for a management fee, a 10% performance fee, and operating costs (custodial/admin). The management fee for the standard Share Class A is 1.25%. The management for the tokenized Share Class T is 0.75%. This is not an exhaustive list of fees. See offering documents for a full fee schedule."},{"kind":"paragraph","text":"The information contained herein and in linked materials is confidential, cannot be distributed without the consent of COINBASE ASSET MANAGEMENT, LLC (together with, or separately as applicable, CBAM (CAYMAN) LTD. SEZC, \"CBAM\"), and is intended solely for use by accredited investors and qualified eligible persons. This information herein and in linked materials is not a solicitation for investment, is not comprehensive, and is qualified by (and if contradictory with the offering documents, superseded by) the relevant fund offering documents. The information herein and in linked materials is not an offer to sell or a solicitation of an offer to buy any securities and may not be relied upon in connection with the purchase or sale of any security. Any such offer would only be made by means of offering documents."},{"kind":"paragraph","text":"Please note that the Information is being provided to you because we believe (based on statements and other indications you have provided) that (i) you have sufficient knowledge, experience and professional advice to understand and to make your own independent evaluation of the merits, risks and suitability of making an investment of these types, (ii) you are not relying on CBAM for information, advice or recommendations of any sort, except factual information, about the terms of any proposed investment, and (iii) you have sufficient financial wherewithal to accept the risks of the transaction. CBAM does not give any tax, accounting, legal or regulatory advice to you and you should satisfy yourself in this regard and ensure that you consult with appropriate advisors to assist in understanding the transactions contemplated by this information herein and in linked materials. Information provided reflects CBAM’s views as of a particular time and are subject to change without notice. Prospective investors should not make investment decisions on the basis of any forward-looking statements contained herein or in linked materials and should verify the information before relying on its accuracy."},{"kind":"paragraph","text":"This Presentation contains statements of opinion, including but not limited to, CBAM’s analysis and views with respect to: digital assets, projected inflation, macroeconomic policy, the market adoption of digital assets, and the market in general. Statements of opinion herein have been formulated using CBAM’s experience, research, and/or analysis, however, such statements also contain elements of subjectivity and are often subjective in nature. In addition, when conducting the analyses on which it bases statements of opinion, CBAM will incorporate assumptions, which in some cases may be shown to be inaccurate in the future, including in certain material respects."}],"hide_holdings_section":true,"hide_historical_data_section":true,"cta_primary_open_in_new_tab":true,"cta_secondary_open_in_new_tab":true},"active_announcements":[]},"GLXY":{"instrument_id":4,"instrument_symbol":"GLXY","instrument_domain":"Equities","instrument_name":"Galaxy Digital Inc. Class A Common Stock","nickname":"Galaxy Digital Inc.","logo":"https://assets.superstate.com/instruments/logos/ba4c59a8d386.png","description":"Galaxy (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Galaxy's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, Galaxy invests in and operates cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia.","created_at":"2025-07-10T19:25:44.746217Z","allowlist_type":"Public","cusip":"36317J209","issuer_entity_id":547,"issuer_entity_name":"Galaxy Digital Inc.","deploy_status_by_chain":{"by_chain":{"900":{"type":"Completed","token_address":"2HehXG149TXuVptQhbiWAWDjbbuCsXSAtLTB5wc2aajK","deploy_transaction_hash":"fiECEGz69B8zLoG1ukPMMQcRx8mwc8mYWsbJ5x7atCo5MQCZpbvFSrmty7tFGvjrsHjtuWA2yyLVyAq3smsqyVt","deployed_contract_address_created_at":"2025-08-08T18:10:46.493507Z"}}},"fund_redemption_addresses_by_chain":null,"equity_burn_addresses_by_chain":{"900":"2u8YwJTykTreziHBN5QwE7Bi2SyN8M2MicCscthtph9E"},"total_supply":"43534.100000","circulating_supply":"13399.282876","has_active_dip_market":false,"current_price":"24.759970","features":{"is_announced":true,"is_token_enabled_any_chain":true,"is_trade_enabled_any_chain":true,"is_featured_on_frontend":true,"is_in_nav_menu":true,"is_minting_enabled":true,"updated_at":"2025-11-24T15:03:11.811388Z"},"capabilities":{},"equity_info":{"equity_type":"Common","current_split_multiplier":{"multiplier":"1"}},"active_announcements":[]},"HSDT":{"instrument_id":10,"instrument_symbol":"HSDT","instrument_domain":"Equities","instrument_name":"Solana Company Class A Common Stock","nickname":"Solana Company","logo":"https://assets.superstate.com/instruments/logos/512041f180b3.png","description":"Solana Company (Nasdaq: HSDT) is a listed digital asset treasury dedicated to acquiring Solana (SOL), created in partnership with Pantera and Summer Capital. Focused on maximizing SOL per share by leveraging capital markets opportunities and onchain activity, Solana Company offers public market investors optimal exposure to Solana’s secular growth","created_at":"2025-11-12T21:24:25.887065Z","allowlist_type":"Public","cusip":"42328V876","issuer_entity_id":1502,"issuer_entity_name":"Solana Company","deploy_status_by_chain":{"by_chain":{"900":{"type":"Completed","token_address":"8UBqBGXM4NF22y5TZs8PhNVwVNqsHw2jBstfcxsSZaQ4","deploy_transaction_hash":"RpxBprZTzKveY1B6vM7kM7dUB4vGnjAGRfqLNC2EPw4VbQgSDftkqroQypXaxTkYp1cMFxp7yPAadtMkP2mXfjZ","deployed_contract_address_created_at":"2025-11-14T20:49:01.405694Z"}}},"fund_redemption_addresses_by_chain":null,"equity_burn_addresses_by_chain":{"900":"2u8YwJTykTreziHBN5QwE7Bi2SyN8M2MicCscthtph9E"},"total_supply":"0.000000","circulating_supply":"0","has_active_dip_market":false,"current_price":null,"features":{"is_announced":true,"is_token_enabled_any_chain":false,"is_trade_enabled_any_chain":false,"is_featured_on_frontend":false,"is_in_nav_menu":false,"is_minting_enabled":true,"updated_at":"2025-12-03T16:51:27.000785Z"},"capabilities":{},"equity_info":{"equity_type":"Common","current_split_multiplier":{"multiplier":"1"}},"active_announcements":[]},"USTB":{"instrument_id":1,"instrument_symbol":"USTB","instrument_domain":"Funds","instrument_name":"Invesco Short Duration US Government Securities Fund","nickname":"Invesco Short Duration US Government Securities Fund","logo":"https://assets.superstate.com/instruments/logos/9d286547b0cb.svg","description":"The Invesco Short Duration US Government Securities Fund (the \"Fund\") offers Accredited Investors and Qualified Purchasers access to short-duration Treasury Bills. The Fund's investment objective is to seek current income as is consistent with liquidity and stability of principal. Ownership in the Fund is represented by USTB, 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.","created_at":"2025-04-15T18:53:54.550618Z","allowlist_type":"Private","cusip":"86851T204","issuer_entity_id":1,"issuer_entity_name":"Superstate Inc.","deploy_status_by_chain":{"by_chain":{"900":{"type":"Completed","token_address":"CCz3SGVziFeLYk2xfEstkiqJfYkjaSWb2GCABYsVcjo2","deploy_transaction_hash":"46dtaFLKJKZUNjzzs4ed3iRhZrVaimZm2tuNEQEdWk4SSCqr8gTYN22Xw2KQT8szZAENysfJHAWreHNtJ2rKzM4Z","deployed_contract_address_created_at":"2025-07-16T17:51:18.876828Z"},"98866":{"type":"Completed","token_address":"0xE4fA682f94610cCd170680cc3B045d77D9E528a8","deploy_transaction_hash":"0x54080bf4e2b910129718233636e6d81914d79751a2ae29de328103a4497961c0","deployed_contract_address_created_at":"2025-03-26T17:17:14.704378Z"},"1":{"type":"Completed","token_address":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e","deploy_transaction_hash":"0x3a206d4b8e68446c957b570f23e54ff7833c9420d3e9755e52887b7fcafacf02","deployed_contract_address_created_at":"2025-08-18T19:25:56.043637Z"}}},"fund_redemption_addresses_by_chain":{"900":"2u8YwJTykTreziHBN5QwE7Bi2SyN8M2MicCscthtph9E","98866":"0xE4fA682f94610cCd170680cc3B045d77D9E528a8","1":"0x43415eB6ff9DB7E26A15b704e7A3eDCe97d31C4e"},"equity_burn_addresses_by_chain":null,"total_supply":"66131203.227477","circulating_supply":"66131203.227477","has_active_dip_market":false,"current_price":null,"features":{"is_announced":true,"is_token_enabled_any_chain":true,"is_trade_enabled_any_chain":true,"is_featured_on_frontend":true,"is_in_nav_menu":true,"is_minting_enabled":true,"updated_at":"2026-05-13T16:15:11.615275Z"},"capabilities":{"onboarding":{"self_serve_enabled":true,"manual_shareholder_onboarding_enabled":false,"fund_admin_contact":null},"purchase":{"self_serve_enabled":true}},"fund_configuration":{"distributions_enabled":false,"nav_pricing_type":"Realtime","wire_instructions":{"Bank Name":["UMB Bank N.A."],"Account Name":["SUPERSTATE ASSET TRUST"],"Account Number":["9872756444"],"Routing Number":["101000695"],"SWIFT Code":["UMKCUS44","International Wires"],"Address":["1010 Grand Blvd, Kansas City, MO 64106"]},"nav_source":"NavConsulting","superstate_manages_redemptions":true,"redemption_frequency":"realtime","has_subscription_nav_per_share":false,"manual_subscriptions_allowed":true,"base_currency":{"instrument_id":11,"symbol":"USD"}},"marketing_metadata":{"status":"Public","go_live_at":"2026-06-01T12:47:00Z","about_text":"The Invesco Short Duration US Government Securities Fund (the \"Fund\") offers Accredited Investors and Qualified Purchasers access to short-duration Treasury Bills. The Fund's investment objective is to seek current income as is consistent with liquidity and stability of principal. Ownership in the Fund is represented by USTB, 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.","hero_image_url":"https://assets.superstate.com/images/2026/01/06/ustb-feature-img.jpg","og_image_url":"https://assets.superstate.com/images/2026/04/21/og-invesco-ustb-new.jpg","historical_chart_color_token":"#000DCC","cta_primary_text":"Register","cta_primary_url":"https://superstate.com/register","cta_secondary_text":"Learn more","cta_secondary_url":"https://invesco.com/us/en/institutional/strategies/money-market-and-liquidity/ustb.html","cta_body_text":"Sign up for a Superstate account to access tokenized shares of Invesco Short Duration US Government Securities Fund. Once your account is approved, you can add your wallet to the allowlist to hold, trade, and use USTB onchain.","fee_display":"≤ 0.15%","tradingview_symbol":null,"issuer_homepage_url":null,"disclosures":null,"supplemental_key_fact_rows":[{"name":"Documentation","link_label":"Read more →","link_href":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb"},{"name":"Custodian","value":"The Bank of New York Mellon"},{"name":"Auditor","value":"PricewaterhouseCoopers LLP"},{"name":"NAV calculation agent","value":"NAV Fund Services"},{"name":"Investment manager","value":"Invesco Advisers, Inc."},{"name":"Transfer agent","value":"Superstate Services LLC"},{"name":"Domicile","value":"United States"},{"name":"Structure","value":"The Fund is a series of a Delaware Statutory Trust"},{"name":"Eligible investors","value":"Accredited Investors and Qualified Purchasers"},{"name":"Subscription timing","value":"Same-day. Immediate for USDC; 5pm ET cutoff for USD"},{"name":"Redemption timing","value":"Same-day. Immediate for USDC; 1pm ET cutoff for USD"}],"feature_rows":[{"icon":{"name":"lightning","weight":"fill","color_token":"gold-500"},"title":"Continuous NAV/S","body":"Interest is calculated and accrues in real-time upon subscription. Redemptions can be priced in real time.","docs_anchor":"https://docs.superstate.com/investors/tokenized-funds/available-funds/invesco-ustb"},{"icon":{"name":"code","weight":"bold","color_token":"gold-500"},"title":"Protocol mint and redeem","body":"Investors can mint or redeem shares in a single onchain Ethereum transaction. This unlocks critical new workflows for DeFi protocols, stablecoin issuers, and automated investment strategies.","docs_anchor":"https://docs.superstate.com/investors/smart-contracts#ustb-specific-functionality"}],"disclaimers":[{"kind":"paragraph","text":"The Invesco Short Duration US Government Securities Fund (“USTB”) is limited to investors that meet certain criteria. This Website shall not constitute an offer to buy or sell, which may be made only at the time a qualified offeree receives the USTB offering materials, which will describe the offering and its terms."},{"kind":"footnote","text":"30 Day Yield is reflective of the accrued net income from USTB'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 USTB, and then annualized. This 30 Day Yield calculation is inclusive of fees and expenses. The return of USTB's underlying holdings are variable and will vary.  Past performance is not a guarantee of future results.","number":1},{"kind":"footnote","text":"The management fee and other expenses that may be incurred by investing in USTB will accrue daily. All investors will be subject to a 0.15% management fee. The Investment Manager will provide a monthly rebate for investors maintaining an average holding greater than $25 million and will rebate 0.10% of the management fee for the average daily holding that is greater than $25 million. The average value is computed by adding the investor's Market Day NAV and dividing by the total number of Market Days in the month. The rebate will be paid monthly. USTB is not subject to a performance-based fee or allocation.","number":2},{"kind":"footnote","text":"Redemption in USDC is done through Circle, a third party. Daily liquidity facilitated through USDC is subject to risks and restrictions as outlined within USTB's Fund Documents.","number":3},{"kind":"footnote","text":"Portfolio holdings are shown as of the date indicated and are unaudited. The provided data is not indicative of future portfolio composition and is not intended to, and does not constitute, a recommendation that others buy, sell or hold any of the assets listed.","number":4},{"kind":"paragraph","text":"**Summary of Risk Factors**\nProspective investors should carefully consider the following risks factors, which individually or collectively could adversely affect the value of the Fund. There is no assurance the Fund will achieve its investment objective or that investors will receive any return of or on their capital. Past performance is not indicative of future results. Investors should review the Offering Memorandum and consult their legal, tax, and financial advisors before investing. **Please see the Invesco Short Duration US Government Securities Fund PPM for a more comprehensive discussion of risk factors and other potential conflicts of interest starting on page 24.**"},{"kind":"unordered_list","text":"","items":["The Fund relies significantly on the continued services of key investment and operational personnel. Past performance of the Fund or such individuals is not indicative of future results. The loss or unavailability of key personnel, and any inability to replace them, could adversely affect the Fund’s operations and performance, with uncertain impact.","The Fund is subject to operational risks, including errors in processing, valuation, recordkeeping and transaction execution, as well as failures in systems, controls or communications. The Fund relies on the Investment Manager and third-party service providers for critical systems and operations, and disruptions or mistakes by these parties may result in financial loss, business interruption, regulatory exposure or reputational harm. While business continuity plans exist, there is no assurance they will be effective in all circumstances.","The Investor Portal may be subject to technical or operational disruptions that affect availability or reliability. Access is secured by password and two-factor authentication, and users are responsible for restricting access to authorized parties. Unauthorized activity must be reported promptly and may be reversed at the Transfer Agent’s discretion.","Shareholders have limited rights compared to investors in other collective investment vehicles. They do not participate in management, have no voting or approval rights under the Trust Agreement, and must rely on the Investment Manager’s discretion. The Investment Manager may modify certain Fund limitations without shareholder consent and is not obligated to consider shareholder interests. While the Investment Manager may limit the factors it considers, it remains subject to certain non-waivable fiduciary obligations under the Advisers Act.","The Fund indemnifies the Investment Manager and other service providers for certain liabilities, which may reduce Shareholder returns, and such parties may benefit from broad exculpation. These obligations are payable from the Fund’s assets and may limit Shareholders’ rights of recourse. The Fund and its service providers may also be required to disclose Shareholder information to satisfy legal or regulatory requirements.","The Fund and its service providers are vulnerable to cyberattacks, system failures and unauthorized access, which may result in operational disruptions, financial loss and exposure of sensitive Shareholder information. Such incidents could lead to increased costs, regulatory consequences and reputational damage, and may not be fully covered by insurance.","The Investment Manager may, in its sole discretion, require a Shareholder to redeem all or part of their Shares at any time, including for regulatory, legal or compliance reasons. Such forced redemptions may result in adverse tax and economic consequences, including the realization of gains at an inopportune time.","Large or rapid Shareholder redemptions may require the Fund to liquidate investments quickly, potentially reducing asset values and disrupting its strategy. A smaller asset base may also make it more difficult to generate returns or recover losses due to lower scale efficiencies.","Protocol Redeem may enable faster USDC redemptions of Tokenized Shares but is available only on a limited, “when available” basis and subject to dynamic daily limits, which may restrict or prevent processing—particularly for large or late-day requests. Timing is not guaranteed; despite references to “instantaneous,” transactions may be delayed due to blockchain, network, cybersecurity, or other operational disruptions, and the functionality is limited to the Ethereum blockchain. The process is more technically complex and may result in errors, failed transactions or cancellations requiring resubmission by investors. Protocol Redeems rely on a Liquidity Facility with an affiliated provider that advances redemption proceeds (subject to a cap), and such advances may accrue interest at market-based rates, reducing Fund returns. If the Liquidity Facility is unavailable or the provider fails to fund advances, Protocol Redeems may be delayed or suspended. In the event of the Fund’s default or insolvency, the liquidity provider’s claims would rank senior to Shareholders, which could reduce amounts recoverable by investors.","The Fund uses a continuously calculated NAV per Share, based on a linear extrapolation of prior Market Day valuations that incorporates estimated income and expenses rather than real-time market prices. As a result, the Continuous NAV may differ, potentially materially, from a NAV based on current market values, particularly during periods of intraday market volatility. This methodology also introduces additional calculation and operational complexities, which may increase the risk of errors or inaccuracies and could adversely affect Shareholders.","The Fund is not registered as an investment company under the Investment Company Act and is therefore not subject to the regulatory protections applicable to registered funds, including requirements relating to governance, custody of assets and limitations on affiliated transactions.","Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating.","Investments in U.S. Government securities are subject to interest rate risk and market value fluctuations. Although backed by the full faith and credit of the United States, such securities may be negatively affected by concerns regarding the government’s ability to meet its obligations, and their value may decline, impacting the Fund’s NAV.","The Fund’s yield will fluctuate as portfolio securities mature or are reinvested, particularly in changing interest rate environments. Declining or low interest rates may reduce income, and in extreme cases, the Fund may be unable to maintain a positive yield without affecting its NAV. Inflation and changes in monetary policy may further impact returns.","Repurchase agreements expose the Fund to counterparty risk. If a counterparty fails to repurchase the securities, the Fund may incur delays or losses, including from declines in collateral value. In such cases, any shortfall may result in an unsecured claim that could be uncollectible if the counterparty becomes insolvent.","Disruptions in the financial services industry, including liquidity shortages, defaults or insolvencies of financial institutions or counterparties, may adversely affect the Fund. If a counterparty, custodian or service provider becomes insolvent, the Fund may face delays or losses in accessing assets or completing transactions, and uninsured assets may be at risk of loss.","Inflation may reduce the real value of the Fund’s investments and income, while rising interest rates in response to inflation may adversely affect performance. Conversely, deflation may increase the relative burden of debt, potentially impairing issuers’ ability to meet obligations and negatively impacting the Fund.","The Fund’s transactions, particularly in private markets, expose it to the risk that counterparties may fail to settle or perform obligations, resulting in losses. This risk may be heightened for longer-term transactions or when exposures are concentrated with a single or limited group of counterparties, and there is no assurance that all counterparties will meet their obligations.","Stablecoins may not always be redeemable at a 1:1 value due to fluctuations or issues with underlying reserve assets, which may be insufficient to meet redemption demands during periods of stress or loss of market confidence. Prices may deviate from their intended stability, particularly during market disruptions or large-scale redemptions. In periods of market stress or reduced confidence, redemption demands may exceed available reserves, potentially leading to price volatility or losses. Stablecoins also operate within an evolving regulatory environment, and new or changing laws may affect their availability, functionality or cost, which could adversely impact the Fund and investors utilizing stablecoin-related services.","Use of USDC services involves additional risks beyond an investment in the Fund, including those described by Circle and other service providers under separate terms, onboarding requirements and disclosures, which investors should review carefully. The timing and execution of USDC transactions are subject to third-party processes and controls. These services are optional and intended as a convenience; investors should only utilize them if they can bear the associated economic risks. The decision to transact in USDC rather than U.S. dollars is solely at the investor’s discretion.","The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.","The regulatory landscape for digital assets and blockchain technology is evolving rapidly and remains uncertain across jurisdictions. In the U.S., digital assets may be classified differently depending on their use, including as securities or commodities, which could affect their value, tradability and legal status. Regulatory changes or enforcement actions may limit or restrict the use, transferability or conversion of digital assets, including Tokenized Shares, and could adversely impact the Fund’s operations. New or changing laws, differing international approaches, and interpretive uncertainty may affect the Fund’s ability to issue, redeem or support Tokenized Shares, and could result in legal, operational or compliance risks, including potential penalties. The novel nature of Tokenized Shares may also give rise to unresolved legal or practical issues that could materially affect the Fund and its investors.","Transfers of Shares are subject to consent requirements and, for Tokenized Shares, automated smart contract controls, which are novel and may not satisfy all legal or regulatory standards. Transfer restrictions—both legal and technical—may limit liquidity and the ability to sell Shares. An active secondary market, particularly for Tokenized Shares, may increase the risk that the Fund fails to meet requirements for applicable securities law exemptions, including investor qualification and manner of sale rules. Any failure of transfer processes, smart contracts or compliance mechanisms could result in regulatory issues that adversely affect the Fund’s operations and returns. In addition, reliance on blockchain networks that are not subject to comprehensive regulation may introduce further uncertainty and could impair the ability to transfer Shares, negatively impacting liquidity.","The Fund relies on smart contracts to facilitate the issuance, transfer and redemption of Tokenized Shares. These automated protocols may contain errors, bugs or security vulnerabilities that could result in operational disruptions, improper transactions or losses, potentially adversely affecting the Fund and its investors.","Transactions on designated blockchains (e.g., Ethereum, Solana or Plume) require payment of network “gas” fees in the applicable native digital asset, which can be volatile and may increase significantly during periods of network congestion. Higher fees may be required to ensure timely processing, and transactions may be delayed or fail if fees are insufficient. The Fund does not control network conditions, and transaction costs and timing are dependent on external factors. Smart contract errors may also result in unintended or excessive fee consumption. Shareholders are responsible for all associated fees and any applicable taxes, which may adversely affect transaction efficiency and overall returns.","Tokenized Shares are not listed on any exchange or trading system and may only be transferred through limited peer-to-peer transactions, subject to restrictions. The pool of potential buyers is narrow; prices are negotiated and may differ from NAV and required counterparty information may not be readily available. As a result, liquidity may be limited, and Shareholders may be unable to sell their Shares in a timely manner or at all.","The Fund may be subject to various actual and perceived conflicts of interest involving the Investment Manager and its affiliates. These parties manage and advise other accounts with potentially overlapping strategies, which may create competing interests in the allocation of opportunities and resources. Not all conflicts can be identified, disclosed or resolved in a manner favorable to the Fund, and their resolution generally involves the Investment Manager’s discretion. By investing, Shareholders acknowledge and accept these conflicts, which could adversely affect the Fund’s operations and performance."]},{"kind":"paragraph","text":"**About Invesco Ltd**\nNot a Deposit  |  Not FDIC Insured  |  Not Guaranteed by the Bank  |  May Lose Value  |  Not Insured by any Federal Government Agency\n\nThe information is intended for Accredited Investors and Qualified Purchasers that are US residents.\n\n**Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Invesco Distributors, Inc. is the placement agent for this fund. Both are indirect, wholly owned subsidiaries of Invesco Ltd.**\n\nAll material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. This is not to be construed as an offer to buy or sell any financial instruments and should not be relied upon as the sole factor in an investment making decision. An offering can only be made by the Offering Memorandum. As with all investments there are associated inherent risks. This should not be considered a recommendation to purchase any investment product. This does not constitute a recommendation of any investment strategy for a particular investor. Investors should consult a financial professional before making any investment decisions if they are uncertain whether an investment is suitable for them. Please obtain and review all financial material carefully before investing.\n\nInvesco is not affiliated with Superstate Services LLC which serves as the Transfer Agent of the Fund. Transfer Agent’s duties do not include solicitation, marketing or distribution of Shares."}],"hide_holdings_section":false,"hide_historical_data_section":false,"cta_primary_open_in_new_tab":false,"cta_secondary_open_in_new_tab":false},"active_announcements":[]},"SBET":{"instrument_id":9,"instrument_symbol":"SBET","instrument_domain":"Equities","instrument_name":"SharpLink Gaming, Inc. Common Stock","nickname":"SharpLink Gaming, Inc.","logo":"https://assets.superstate.com/instruments/logos/fad83343d798.png","description":"SharpLink Gaming, Inc. (Nasdaq: SBET) is one of the world’s largest publicly traded companies to adopt ETH as its primary treasury reserve asset – a move that aligns the Company with the future of digital capital and gives investors direct exposure to Ethereum, the world’s leading smart-contract platform and second largest digital asset.","created_at":"2025-09-25T15:36:50.525994Z","allowlist_type":"Public","cusip":"820014405","issuer_entity_id":1246,"issuer_entity_name":"Sharplink Gaming, Inc.","deploy_status_by_chain":{"by_chain":{"59144":{"type":"Completed","token_address":"0x139c3d0d52c58FD1ea10b44981Aaf21976F7FF51","deploy_transaction_hash":"0xa51aa74f8757744b6293fbf8886c1a5020552ecd8aa0260482241a5c1923b002","deployed_contract_address_created_at":"2025-10-30T18:23:51.428883Z"},"1":{"type":"Completed","token_address":"0x139c3d0d52c58FD1ea10b44981Aaf21976F7FF51","deploy_transaction_hash":"0x44a243b695bf33b357c83a5cd9acf228ad6fcf1f6bca7dc5c61e56741e95419e","deployed_contract_address_created_at":"2025-09-25T21:25:40.427030Z"}}},"fund_redemption_addresses_by_chain":null,"equity_burn_addresses_by_chain":{"1":"0x139c3d0d52c58FD1ea10b44981Aaf21976F7FF51","59144":"0x139c3d0d52c58FD1ea10b44981Aaf21976F7FF51"},"total_supply":"1912.000000","circulating_supply":"0","has_active_dip_market":false,"current_price":"9.355010","features":{"is_announced":true,"is_token_enabled_any_chain":true,"is_trade_enabled_any_chain":false,"is_featured_on_frontend":false,"is_in_nav_menu":false,"is_minting_enabled":true,"updated_at":"2026-05-13T16:15:10.014939Z"},"capabilities":{},"equity_info":{"equity_type":"Common","current_split_multiplier":{"multiplier":"1"}},"active_announcements":[]},"VBDC":{"instrument_id":18,"instrument_symbol":"VBDC","instrument_domain":"Funds","instrument_name":"Valinor BDC Exposure Fund","nickname":"Valinor BDC Exposure Fund","logo":"https://assets.superstate.com/instruments/logos/0dd64245d619.png","description":null,"created_at":"2026-07-31T19:14:31.451774Z","allowlist_type":"Private","cusip":null,"issuer_entity_id":2552,"issuer_entity_name":"Superstate Asset Trust - Valinor BDC Exposure Fund","deploy_status_by_chain":{"by_chain":{"1":{"type":"Completed","token_address":"0xA4E0Ac02de99e23C76480dD75e55894fD74cDECF","deploy_transaction_hash":"0x9a6a3d94becb75b778e954610243a7b43b8716309e6071283302b9768f6c3e7e","deployed_contract_address_created_at":"2026-09-01T16:14:57.723177Z"}}},"fund_redemption_addresses_by_chain":{"1":"0xA4E0Ac02de99e23C76480dD75e55894fD74cDECF"},"equity_burn_addresses_by_chain":null,"total_supply":"799285.184120","circulating_supply":"799285.184120","has_active_dip_market":false,"current_price":null,"features":{"is_announced":true,"is_token_enabled_any_chain":false,"is_trade_enabled_any_chain":false,"is_featured_on_frontend":true,"is_in_nav_menu":false,"is_minting_enabled":true,"updated_at":"2026-09-10T13:12:48.053373Z"},"capabilities":{"onboarding":{"self_serve_enabled":true,"manual_shareholder_onboarding_enabled":true,"fund_admin_contact":null},"purchase":{"self_serve_enabled":true}},"fund_configuration":{"distributions_enabled":false,"nav_pricing_type":"Daily","wire_instructions":null,"nav_source":"NavConsulting","superstate_manages_redemptions":true,"redemption_frequency":"daily","has_subscription_nav_per_share":false,"manual_subscriptions_allowed":false,"base_currency":{"instrument_id":11,"symbol":"USD"}},"marketing_metadata":{"status":"Public","go_live_at":"2026-09-10T12:56:00Z","about_text":"The Valinor BDC Exposure Fund (VBDC) is designed to deliver institutional private credit return with daily redemptions through a diversified basket of publicly traded Business Development Company (BDC) equities, tokenized as an onchain fund. Shares are available as onchain VBDC tokens or book-entry shares.","hero_image_url":"https://assets.superstate.com/images/2026/07/06/og-vbdc-fund.jpg","og_image_url":"https://assets.superstate.com/images/2026/07/06/og-vbdc-fund.jpg","historical_chart_color_token":"#15803d","cta_primary_text":"Register","cta_primary_url":"https://superstate.com/register","cta_secondary_text":"Learn more","cta_secondary_url":"https://www.valinordigital.com/","cta_body_text":"Complete the Investment Agreement (AML/KYC + accredited-investor and qualified-purchaser verification), fund via USD wire or USDC, and receive your VBDC tokens or book-entry shares at the next Market Day's NAV.","fee_display":"1.25%","tradingview_symbol":null,"issuer_homepage_url":null,"disclosures":null,"supplemental_key_fact_rows":[{"name":"Custodian","value":"Alpaca Securities LLC"},{"name":"Auditor","value":"To be appointed prior to first annual audit"},{"name":"Investment manager","value":"Valinor Digital Capital LLC"},{"name":"Fund administrator","value":"NAV Consulting, Inc."},{"name":"Transfer agent","value":"Superstate Services LLC"},{"name":"Domicile","value":"Delaware, USA"},{"name":"Structure","value":"Private fund 3(c)(7)"},{"name":"Eligible investors","value":"Qualified purchasers in supported jurisdictions"},{"name":"Minimum investment","value":"$100,000"},{"name":"Subscription timing","value":"Daily, 3:59pm ET cutoff"},{"name":"Redemption timing","value":"Daily, 2:00pm ET cutoff"}],"feature_rows":null,"disclaimers":[{"kind":"paragraph","text":"The Valinor BDC Exposure Fund (\"VBDC\" or the \"Fund\") is limited to investors that meet certain eligibility criteria. This website does not constitute an offer to sell any security. Any offer or sale of Shares in the Fund will be made only when a qualified offeree receives the Fund's Confidential Private Placement Memorandum (the \"PPM\") and definitive subscription documents, which contain material information not included here and should be read carefully in their entirety. Shares will be offered solely to persons who are accredited investors and are also qualified purchasers or knowledgeable employees. This website is qualified in its entirety by the PPM; if anything here conflicts with the PPM, the PPM controls."},{"kind":"footnote","text":"30-day Return. The Fund does not pay dividends; income received from its underlying holdings is reinvested and reflected in the Fund's NAV per Share. Accordingly, the Fund does not report a distribution \"yield.\" 30-day Return reflects the change in the Fund's NAV per Share over the preceding thirty days, expressed as a percentage of the NAV per Share at the beginning of that period. Return figures, if shown, reflect total return to a shareholder — that is, the amount a shareholder would receive on redemption less the amount that shareholder originally subscribed, expressed as a percentage of the amount subscribed. Both figures are net of the Fund's fees and expenses. An individual Shareholder's actual return will depend on the timing of that Shareholder's subscription and redemption and may differ from the Fund's NAV-based return. Past performance is not a guarantee of future results.","number":1},{"kind":"footnote","text":"Management fee. The Fund pays Valinor Digital Capital LLC (the \"Investment Manager\") a management fee at an annual rate of 1.25% of the Fund's average daily NAV, accrued daily and deducted monthly in arrears. The management fee is not the total cost of an investment — see \"Layered fees\" below.","number":2},{"kind":"footnote","text":"Redemption / USDC. Shareholders may request redemptions as of each day that both the New York Stock Exchange and the Federal Reserve Bank of Philadelphia are open (each such day, a \"Market Day\"). The Fund intends to meet redemptions from a liquidity buffer and from sales of portfolio holdings. Requests received by 2:00 p.m. ET on a Market Day will generally be processed at that day's NAV; the Fund expects to settle on or about the following Market Day. Redemptions are calculated and payable in USD and are subject to a redemption gate (currently up to 7.5% of NAV per Market Day), pro-ration, deferral, limitation, or suspension as described in the PPM. Shareholders may optionally elect to receive proceeds in USDC through Circle, a third party (the \"Payment Stablecoin Services\"), subject to Circle's separate terms — see \"Stablecoin and USDC services\" below.","number":3},{"kind":"footnote","text":"Portfolio holdings. Portfolio holdings are presented on an aggregated and anonymized basis as of the date indicated and are unaudited. Positions are identified by generic labels rather than by name and may not refer to the same holding across periods. Holdings are determined in the Investment Manager's discretion, will change, and are not indicative of future composition. Nothing shown is, or constitutes, a recommendation to buy, sell, or hold any asset.","number":4},{"kind":"paragraph","text":"**Risk Factors**\nAn investment in the Fund is speculative, illiquid, and involves a high degree of risk, including the possible loss of the entire investment. The following summarizes certain risks; it is not complete and is qualified by the risk factors in the PPM, which should be read in full."},{"kind":"unordered_list","text":"","items":["Underlying BDC risk. The Fund invests in the publicly traded equity of business development companies (\"BDCs\") and does not itself originate loans or have obligors. Through its BDC holdings, the Fund is indirectly exposed to the credit and default risk of underlying middle-market loans; BDC-level leverage; premium/discount-to-NAV volatility; payment-in-kind and other non-cash income; valuation risk; single-issuer and common-adviser concentration; smart-beta methodology and tracking-error risk; rebalancing and transaction costs; and BDC-level regulatory risk (1940 Act / RIC qualification). The Fund does not itself use leverage, though its net position may be leveraged when the leverage of its BDC holdings is aggregated.","Interest-rate and market risk. BDC share prices and the Fund's NAV are sensitive to interest rates, credit spreads, and general market conditions, and may decline materially over short periods.","Liquidity and redemption risk. Redemptions may be gated, delayed, limited, or suspended; underlying BDC liquidity can deteriorate, particularly in stressed markets.","Tokenization risk. Smart contract, oracle, custody and key-management, blockchain-disruption, gas-fee, and cybersecurity risks; reliance on Superstate and other third-party service providers; tokenization does not remove transfer restrictions; any use of Shares as collateral on third-party protocols is optional, outside the Investment Manager's control, and at the holder's own risk.","Transfer restrictions. Shares are restricted securities transferable only among allowlisted persons; they are not listed on any exchange, have no secondary market, and holders may be unable to sell in a timely manner or at all.","Stablecoin and USDC services. USDC use is optional and involves risks beyond an investment in the Fund; USDC may not maintain its 1:1 peg, is dependent on Circle's processes, and is subject to an evolving regulatory regime, including the GENIUS Act.","Newly formed; no track record; small-fund expense. The Fund is newly formed with no operating history and may bear proportionately higher expenses while small.","Not registered under the 1940 Act. The Fund relies on Section 3(c)(7) and is not subject to the protections applicable to registered investment companies; Shareholders have limited rights.","Inter-series liability. As a series of a Delaware statutory trust, inter-series liability limitations are statutory but untested in court and bankruptcy.","Layered fees. Investors bear the 1.25% Fund management fee and indirectly bear the underlying BDCs' base and incentive fees, financing costs, and operating expenses; the aggregate burden is materially higher than 1.25%. In addition, idle cash and the liquidity buffer may be invested in the Invesco Short Duration US Government Securities Fund (the \"USTB Fund\"), an unaffiliated third-party fund charging its own 0.15% management fee, so those assets bear two layers of management fees.","Conflicts of interest. The Investment Manager and its affiliates are subject to actual and potential conflicts described in the PPM.","Reliance on key personnel. The Fund depends on the continued services of key personnel of the Investment Manager.","Operational and cyber risk. The Fund and its service providers are subject to operational errors, system failures, and cyber incidents."]},{"kind":"paragraph","text":"**Securities Law**\n Shares in the Fund have not been and will not be registered under the Securities Act of 1933 (the \"Securities Act\") or the securities laws of any state or other jurisdiction, and are offered in reliance on Rule 506(c) of Regulation D solely to investors that are accredited investors and that are also qualified purchasers or knowledgeable employees (in each case, as the Fund will take reasonable steps to verify). Outside the United States, Shares are offered only in jurisdictions in which the Fund is permitted to offer them and, in certain jurisdictions, only to entities. This website is not directed to any person in any jurisdiction where such an offer would be unlawful. The Fund is not registered as an investment company in reliance on Section 3(c)(7) of the Investment Company Act of 1940. The Shares are restricted securities and are transferable only among allowlisted persons. NEITHER THE SEC NOR ANY STATE OR FOREIGN SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED THE SHARES OR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS WEBSITE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE."},{"kind":"paragraph","text":"**Forward Looking Statements & 3rd Party Data**\nCertain statements on this website are forward-looking, including statements regarding the Fund's intentions and expectations as to liquidity, redemption processing and settlement timing, and portfolio composition. Forward-looking statements are subject to known and unknown risks and uncertainties; actual outcomes may differ materially, and the Investment Manager undertakes no obligation to update them. Certain information is derived from third-party sources believed to be reliable but not independently verified; it is provided as-is and is subject to change. Third-party names, marks, and logos are the property of their respective owners, are used for identification only, and do not imply any affiliation, sponsorship, or endorsement. All information is as of the date shown unless otherwise noted and is subject to change without notice."},{"kind":"paragraph","text":"**Entity Roles, Service Providers & Non-Affiliation**\nVBDC is a separate series of the Superstate Asset Trust, a Delaware statutory trust. The Fund is managed by the Investment Manager, which provides this information. The Fund's custodian, transfer agent, administrator and NAV calculation agent, and auditor are identified elsewhere on this page. There is no placement agent or distributor for the offering; the Investment Manager conducts the Rule 506(c) offering directly. USDC is issued by Circle Internet Financial, LLC, a third party that is not affiliated with the Investment Manager or the Fund.\n\nThis website is for informational purposes only, is not tailored to any person's circumstances, and does not constitute legal, tax, accounting, or investment advice or a recommendation to buy or sell any security."}],"hide_holdings_section":true,"hide_historical_data_section":true,"cta_primary_open_in_new_tab":false,"cta_secondary_open_in_new_tab":false},"active_announcements":[]},"USCC":{"instrument_id":2,"instrument_symbol":"USCC","instrument_domain":"Funds","instrument_name":"Bitwise Crypto Carry Fund","nickname":"Bitwise Crypto Carry Fund","logo":"https://assets.superstate.com/instruments/logos/44a94f99563f.png","description":"The Bitwise Crypto Carry Fund (the “Fund”) offers Qualified Purchasers access to crypto basis strategies, which aim to take advantage of the difference between spot and futures prices. The Fund seeks to optimize the yield and manage the risk of crypto cash-and-carry trades across multiple crypto assets and U.S. Treasury securities. Ownership in the Fund is via the USCC token or book-entry record keeping. Subscriptions and redemptions are facilitated through USD or USDC, with liquidity each market day.","created_at":"2025-04-15T18:53:54.550618Z","allowlist_type":"Private","cusip":null,"issuer_entity_id":1,"issuer_entity_name":"Superstate Inc.","deploy_status_by_chain":{"by_chain":{"98866":{"type":"Completed","token_address":"0x4c21B7577C8FE8b0B0669165ee7C8f67fa1454Cf","deploy_transaction_hash":"0x1943972958ee56ab7c8f2ebf376a2c4888986bebb9ebdbddf38d27dc6de68c5d","deployed_contract_address_created_at":"2025-03-27T14:48:44.346846Z"},"1":{"type":"Completed","token_address":"0x14d60E7FDC0D71d8611742720E4C50E7a974020c","deploy_transaction_hash":"0xbe8d18baf6aa7b9c40d8e099bbb44ef50ce83ba955589a4993127ed0434aabb1","deployed_contract_address_created_at":"2025-08-18T19:26:14.266893Z"},"900":{"type":"Completed","token_address":"BTRR3sj1Bn2ZjuemgbeQ6SCtf84iXS81CS7UDTSxUCaK","deploy_transaction_hash":"67RgHoTvQJWiEnsF2UEs1nXygUFo3wRMzpiGYSZD7VTkRWq7skA52SCpeUCvJUA9NcpFidZmbnSNfnEDCSKcshwn","deployed_contract_address_created_at":"2025-07-16T18:11:26.280498Z"}}},"fund_redemption_addresses_by_chain":{"900":"2u8YwJTykTreziHBN5QwE7Bi2SyN8M2MicCscthtph9E","98866":"0x4c21B7577C8FE8b0B0669165ee7C8f67fa1454Cf","1":"0x14d60E7FDC0D71d8611742720E4C50E7a974020c"},"equity_burn_addresses_by_chain":null,"total_supply":"14332246.014883","circulating_supply":"14332246.014883","has_active_dip_market":false,"current_price":null,"features":{"is_announced":true,"is_token_enabled_any_chain":true,"is_trade_enabled_any_chain":true,"is_featured_on_frontend":true,"is_in_nav_menu":true,"is_minting_enabled":true,"updated_at":"2026-05-13T16:15:11.112301Z"},"capabilities":{"onboarding":{"self_serve_enabled":true,"manual_shareholder_onboarding_enabled":false,"fund_admin_contact":null},"purchase":{"self_serve_enabled":true}},"fund_configuration":{"distributions_enabled":false,"nav_pricing_type":"Daily","wire_instructions":{"Bank Name":["UMB Bank N.A."],"Account Name":["SUPERSTATE ASSET TRUST-SUPERSTATE CRYPTO CARRY FUND"],"Account Number":["9835764410"],"Routing Number":["101000695"],"SWIFT Code":["UMKCUS44","International Wires"],"Address":["1010 Grand Blvd, Kansas City, MO 64106"]},"nav_source":"NavConsulting","superstate_manages_redemptions":true,"redemption_frequency":"daily","has_subscription_nav_per_share":false,"manual_subscriptions_allowed":true,"base_currency":{"instrument_id":11,"symbol":"USD"}},"marketing_metadata":{"status":"Public","go_live_at":"2026-07-09T18:45:00Z","about_text":"The Bitwise Crypto Carry Fund (the “Fund”) offers Qualified Purchasers access to crypto basis strategies, which aim to take advantage of the difference between spot and futures prices. The Fund seeks to optimize the yield and manage the risk of crypto cash-and-carry trades across multiple crypto assets and U.S. Treasury securities. Ownership in the Fund is via the USCC token or book-entry record keeping. Subscriptions and redemptions are facilitated through USD or USDC, with liquidity each market day.","hero_image_url":"https://assets.superstate.com/images/2026/01/06/uscc-feature-img.jpg","og_image_url":"https://assets.superstate.com/images/2026/05/06/bitwise-og-uscc-new.jpg","historical_chart_color_token":"#000000","cta_primary_text":"Register","cta_primary_url":"https://www.superstate.com/register","cta_secondary_text":"Learn more","cta_secondary_url":"https://bitwiseinvestments.com/crypto-funds/uscc","cta_body_text":"Sign up for an account to access tokenized shares of the Bitwise Crypto Carry Fund. Once your account is approved, you can add your wallet to the allowlist to hold, trade, and use USCC onchain.","fee_display":"0.75%","tradingview_symbol":null,"issuer_homepage_url":null,"disclosures":null,"supplemental_key_fact_rows":[{"name":"Documentation","link_label":"Read more →","link_href":"https://docs.superstate.com/investors/tokenized-funds/available-funds/bitwise-uscc"},{"name":"Custodian","value":"Anchorage Digital"},{"name":"Auditor","value":"Ernst & Young LLP"},{"name":"NAV calculation agent","value":"NAV Fund Services"},{"name":"Investment manager","value":"Bitwise Investment Manager, LLC"},{"name":"Sub-advisor","value":"Superstate Advisers LLC"},{"name":"Transfer agent","value":"Superstate Services LLC"},{"name":"Domicile","value":"United States"},{"name":"Structure","value":"The Fund is a series of a Delaware Statutory Trust"},{"name":"Eligible investors","value":"Qualified Purchasers in supported jurisdictions"},{"name":"Minimum investment","value":"$100,000"},{"name":"Subscription timing","value":"Daily, 5pm ET cutoff"},{"name":"Redemption timing","value":"Daily, 5pm ET cutoff"},{"name":"Fact sheet","link_label":"Download","link_href":"https://bitwise-materials.s3.us-east-1.amazonaws.com/public/fact-sheets/private_uscc.pdf"}],"feature_rows":null,"disclaimers":[{"kind":"paragraph","text":"The Bitwise Crypto Carry Fund (\"USCC\") is limited to investors that meet certain criteria. This Website shall not constitute an offer to sell or an offer to buy, which may be made only at the time a qualified offeree receives the USCC offering materials, which will describe the offering and its terms. For more important disclaimers, please visit superstate.com/terms#disclaimers.","link":{"label":"superstate.com/terms#disclaimers","href":"https://superstate.com/terms#disclaimers"}},{"kind":"footnote","text":"30 Day Yield is reflective of the accrued net income from USCC'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 USCC, and then annualized. This 30 Day Yield calculation is inclusive of fees and expenses. The return of USCC's underlying holdings are variable and will vary.","number":1},{"kind":"footnote","text":"The management fee and other expenses that will be incurred by investing in USCC will accrue daily. The management fee is payable monthly in arrears, and is equal to an annual rate of 0.75% of USCC's average daily Net Asset Value. USCC is not subject to a performance-based fee or allocation.","number":2},{"kind":"footnote","text":"Redemption in USDC is done through Circle, a third party. Daily liquidity facilitated through USDC is subject to risks and restrictions as outlined within USCC Fund Documents.","number":3},{"kind":"footnote","text":"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 USCC 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 that others buy, sell or hold any of the assets listed.","number":4},{"kind":"paragraph","text":"Bitwise Investment Manager and its affiliates (collectively, “Bitwise”) are providing this information to qualified investors for informational purposes only in relation to a potential opportunity to subscribe for shares (“Shares”) in the Bitwise Crypto Carry Fund (the “Fund”). This is neither an offer to sell nor a solicitation for an offer to buy Shares in the Fund. Any offer to sell or solicitation of an offer to buy Shares will be made solely through the Fund’s definitive offering documents, identified as such, with respect to the Fund in compliance with the terms of all applicable securities and other laws.\n\nCertain of the Bitwise investment products may be subject to the extreme risks associated with investing in crypto assets. Because crypto assets are a new technological innovation with a limited history, future regulatory actions or policies may limit the ability to sell, exchange or use a crypto asset. Crypto assets may decline in popularity, acceptance or use, which may impact their price.
\n\nProspective Shareholders are encouraged to consult with their legal, financial and tax advisors and to review the Fund Documents which include the entire Memorandum, the Trust Agreement and the Investment Agreement, prior to committing to invest in the Fund."},{"kind":"paragraph","text":"**Limited Operating History; Past Performance; Reliance on Key Personnel.** The Fund is a newly formed entity and the Investment Manager has a limited operating history. The Fund's future success depends, to a significant extent, upon the continued services of investment professionals within the Investment Manager (the individuals who are material to the Fund's success are not limited to the designated portfolio managers). There can be no assurance that it will be possible to replace any investment professional should they cease to be involved with the Fund for any reason, and there is no certainty as to the impact upon the Fund of a departure of an investment professional.\n\n**Early Stages of the Fund.** Certain risks may arise in the early stages of the Fund due to the smaller size of the Fund, particularly regarding operating expenses. As a smaller fund, the Fund is likely to incur relatively higher operating expenses on a per-Share basis. This situation can have a direct impact on the Fund's net performance, as the proportionate share of expenses borne by each Shareholder may be more significant compared to larger funds with a broader asset base.
\n\n**Fraud.** The Fund could be subject to losses due to fraudulent and negligent acts on the part of third parties.\n\n**Nature of Shareholder Shares.** Shareholders will not have the rights and remedies that may be available to investors in other forms of investment vehicles. To safeguard their limited liability from the liabilities and obligations of the Fund, the Shareholders will not be permitted to take part in the management or control of the Fund's business, and will have only certain limited voting rights as set forth in the Fund Documents.\n\nThere is no guarantee or assurance that an investor’s investment objectives will be met through an investment into any Bitwise investment product, and an investor may lose all or a portion of the investment. Investors into any Bitwise investment product should be willing to accept a high degree of volatility in the price of the investment product and the possibility of significant losses. **An investment in any Bitwise investment product involves a substantial degree of risk.**\n\nThe Shares will be offered and sold under the exemption provided by Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D promulgated thereunder and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made. The Shares are not registered under the Securities Act of 1933 (the “Securities Act”), the Investment Company Act of 1940 (the “Investment Company Act”), or any state securities commission or any other regulatory body."},{"kind":"paragraph","text":"There is no guarantee that any Fund will meet its investment objective.\n\nFor qualified investors only.\nForeside Fund Services, LLC provides marketing review services for Bitwise Asset Management, Inc. Foreside Fund Services, LLC is not affiliated with Bitwise or its affiliates."}],"hide_holdings_section":false,"hide_historical_data_section":false,"cta_primary_open_in_new_tab":false,"cta_secondary_open_in_new_tab":false},"active_announcements":[]},"FWDI":{"instrument_id":8,"instrument_symbol":"FWDI","instrument_domain":"Equities","instrument_name":"Forward Industries, Inc. Common Stock","nickname":"Forward Industries, Inc.","logo":"https://assets.superstate.com/instruments/logos/fa4d23831e06.svg","description":"Forward Industries, Inc. 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