Bitwise USCC Discloses Hedged XRP Futures Position and Implied Yield
Bitwise Crypto Carry Fund shows 10.78 million XRP held against short September futures at 97.48% hedge ratio and 14.57% implied yield.
Bitwise disclosed that its Crypto Carry Fund, USCC, holds 10,781,438.36 XRP in custody against a short position of 10,510,000 September Coinbase XRP futures.
The position is 97.48% quantity-matched, leaving a residual long of 271,438.36 XRP and a notional difference of $232,776.
Futures trade at a 0.91% premium to spot, which Bitwise labels as a 14.57% implied annualized yield on the displayed holding.
Remaining unknowns
Exact contract specifications and product codes are not published. Execution, financing, custody, margin and roll costs are not disclosed. Broader institutional XRP demand or other Bitwise products fall outside this single-fund snapshot.