Overview
- Spark said it redeployed $100 million from its USDS reserve into Superstate’s Crypto Carry Fund, a vehicle open to qualified purchasers.
- USCC pursues market‑neutral basis trades that capture price differences between spot crypto and CME futures across major assets like Bitcoin and Ethereum.
- Recent reports cite a 30‑day yield in the 8.35%–9.26% range, reflecting vendor‑reported figures that vary by outlet.
- The move follows U.S. Treasury yields sliding to roughly six‑month lows near 4%, reducing returns from tokenized T‑Bills that many crypto treasuries have used.
- Superstate’s Robert Leshner framed the shift as accessing yields less tied to Fed rate policy, while Spark developer Sam MacPherson emphasized diversification within a compliant framework and noted it continues Spark’s 2025 reserve deployments.