Spark is deploying $100 million into Superstate’s crypto carry fund to capture basis trade yields as returns from its traditional Treasury holdings begin to soften across the market.
According to an announcement on Oct. 23, the DeFi lending protocol Spark has allocated $100 million from its reserves to the Superstate Crypto Carry Fund, or USCC. USCC generates returns through a market-neutral arbitrage strategy, capitalizing on the price difference, or “basis,” between crypto assets like Bitcoin (BTC) and Ethereum (ETH) …
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