Spark invests $100M in Superstate’s USCC fund as Treasury yields hit six-month lows
Spark allocated $100 million to Superstate's USCC fund seeking uncorrelated yield amid falling Treasury returns.Summary
Decentralized finance protocol Spark has invested $100 million of its stablecoin reserves into Superstate’s USCC fund, a regulated vehicle for qualified purchasers. This move is driven by the recent decline in U.S. Treasury yields, which fell below 4%, prompting DeFi protocols to seek alternative, uncorrelated yield sources to maintain competitive returns.
The USCC fund, launched in July 2024, utilizes market-neutral basis trading strategies across major crypto assets like Bitcoin, Ethereum, Solana, and XRP, alongside U.S. Treasury holdings. It is currently offering a 30-day yield of 8.35%.
Superstate CEO Robert Leshner noted that the investment allows Spark to secure stable, attractive returns within a compliant institutional framework, uncorrelated with Federal Reserve rate policy. Spark's developer, Phoenix Labs CEO Sam MacPherson, emphasized that the fund allows Spark to diversify reserves while prioritizing safety and compliance.
(Source：Crypto Briefing)