Bitwise has introduced its first tokenized investment fund, the Bitwise Crypto Carry Fund, which includes XRP alongside Bitcoin, Ethereum, and Solana. The fund, valued at $259 million, offers institutional investors a new avenue for exposure to these cryptocurrencies through a regulated on-chain financial structure. The fund has already surpassed $250 million in assets under management and generates an annualized 30-day yield of approximately 4%. The fund operates on Superstate’s FundOS platform, allowing tokenized shares to be used as collateral on decentralized finance platforms like Aave Horizon and Kamino. This enables investors to unlock liquidity without selling their positions. Bitwise's strategy focuses on basis trading, holding spot cryptocurrencies while maintaining short futures positions, rather than relying on asset price appreciation. The fund is available exclusively to qualified investors through a private placement and is not registered with the SEC.