Spark Shifts $100M from Treasurys to Superstate’s DeFi Fund in Yield Strategy Pivot
Spark Protocol has reallocated $100 million of its stablecoin reserves from US Treasurys to Superstate's crypto Carry Fund (USCC), a regulated DeFi vehicle employing basis trading strategies. The move reflects growing institutional appetite for yield sources uncorrelated with traditional monetary policy.
Superstate's fund currently generates 9.26% annualized yield through derivatives arbitrage on major digital assets, offering an alternative to rate-dependent fixed income products. This marks one of the largest documented rotations from traditional securities to crypto-native yield strategies by a DeFi protocol.
The transition signals broader maturation in decentralized finance as protocols seek sophisticated treasury management solutions. Basis trading strategies like those employed by USCC capitalize on price differentials between spot and futures markets without direct exposure to underlying asset volatility.
