Key facts
- Bitwise Asset Management's tokenized Crypto Carry Fund (USCC) has been approved as an asset issuer on Aave Horizon.
- Aave maintains high standards for asset issuers.
- The USCC fund uses a market-neutral basis-trade strategy.
- The fund targets a 4% annual yield.
- USCC tokens can be used as collateral on DeFi lending protocols like Aave.
Bitwise Asset Management's tokenized Crypto Carry Fund (USCC) has received approval as an asset issuer on Aave Horizon, a platform associated with the prominent DeFi lending protocol Aave. This approval allows the USCC fund, which employs a market-neutral basis-trade strategy to target a 4% annual yield and holds assets like Bitcoin and Ethereum, to be integrated into Aave's ecosystem. The fund's initial assets under management stand at $259 million. The integration signifies a step towards greater composability between traditional finance-like yield products and decentralized finance protocols.