PANews reported on May 7th that Matt Hougan, Chief Investment Officer of Bitwise, announced the launch of his company's first tokenized fund, the Bitwise Crypto Carry Fund (USCC). This fund aims to generate market-neutral returns through cryptocurrency basis trading and will take over the previously managed product of the same name from Superstate, which will continue to provide the underlying technology support. Bitwise cautioned that the fund is only open to accredited investors, is offered privately, and its units are not registered under the Securities Act of 1933 or the Investment Company Act of 1940. Currently, there is no redemption mechanism, and investors may face high volatility and the risk of total loss.