Superstate
ATH
ATH
USTB Metrics
Spot Volume (24H)
$0.00
Marketcap
$689M
FDV
$689M
Mindshare
Very Low
Circ. Supply
61.2M
Max Supply
-
Mcap/FDV
100%
Total Supply
61.1M
Sector Ranking
-
About & Links
About & Links
Superstate is a financial technology firm focused on public capital markets. They connect financial assets with crypto capital markets to expand access, improve liquidity, and advance capital formation through on-chain public listings and tokenized investment products.
- Superstate Short Duration U.S. Government Securities Fund (USTB): This is a private fund that invests in U.S. Treasury and Agency securities with short durations. The Fund aims for returns aligned with the federal funds rate. Ownership in the Fund is represented by an ERC-20 token, USTB, or book-entry recordkeeping. The fund has a management fee of 0.15%, and it allows investors the flexibility of self-custody or using institutional custodians. The Fund is available on multiple major blockchains.
- The Superstate Crypto Carry Fund (USCC): This offers investor access to crypto basis (differential between the spot and future price) strategies. The Fund optimizes the yield and risk of crypto cash-and-carry trades across the Bitcoin basis, Ether basis (including staking Ether), and U.S. Treasury securities. Ownership in the Fund is recognized by an ERC-20 token, USCC, or book-entry recordkeeping. Subscriptions and redemptions are facilitated through USD or USDC, with liquidity each market day. The Fund is available on multiple major blockchains.
- Opening Bell: Opening Bell is a platform that enables high-growth public and private companies to list their shares in crypto capital markets. Built for companies that want more control, speed, and investor reach than traditional paths allow, Superstate’s Opening Bell uses on-chain infrastructure to deliver a compliant listing process that makes company shares tradable sooner, unlocks secondary liquidity, and connects their business to a broader investor base.
Sector Rank
n/a, n/a
Sub-Sector Rank
n/a, n/a
Contracts
API ID
USTB Performance
All Time High
$11.26-0.0₁₃16%
Oct 29, 2026
Cycle Low
$11.26+0.0₁₃16%
Oct 29, 2026
Trending
USTB Metrics
Spot Volume (24H)
$0.00
Marketcap
$689M
Mindshare
Very Low
Last Updated: Oct-29-2026 11:38 UTC
Superstate Project Update
Get Caught Up
Backpack Partnership for SEC-Registered Tokenized Stocks
Backpack partnered with Superstate to enable trading of native, SEC-registered tokenized stocks directly onchain, moving beyond custodial wrappers 12. The integration allows eligible non-U.S. users to trade real shares of companies like Apple and Tesla alongside crypto and stablecoins, with equities conferring direct ownership, voting, and dividend rights settled entirely onchain via Superstate's SEC-registered transfer agent 1. This matters because it expands access to traditional equities for crypto-native investors and improves margin trading opportunities, while Superstate's Opening Bell platform plans to tokenize more stocks and expand interoperability with DeFi platforms 12.
Superstate's Platform Positioning and Industry Council
Superstate integrates traditional capital markets with crypto through onchain public listings and tokenized securities, with flagship funds including the USTB Short Duration US Government Securities Fund and the USCC Crypto Carry Fund 3. The platform emphasizes real-time onchain settlement, continuous interest accrual, and seamless ownership transfers akin to ERC-20 tokens, with assets managed by established custodians under a U.S.-based, bankruptcy-remote trust structure 3. Superstate also features an Industry Council comprising top traditional and digital asset firms to shape product development and promote tokenization adoption 3.
Biggest Stories of 2025
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Forward Industries tokenized its FWDI stock using the Superstate platform, marking another public company leveraging Superstate's tokenization infrastructure (December 18, 2025) 4.
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Superstate & nBASIS yield vault — Nest's most popular RWA yield vault, nBASIS, surpassed 14,000 users and $20M in TVL by leveraging Superstate USCC (BTC/ETH/XRP/SOL basis trades via CME futures) and Superstate USTB (short-duration U.S. Treasuries) as its core strategies (December 18, 2025) 5.
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Superstate launched Direct Issuance Programs on Ethereum and Solana, allowing public companies to issue newly created or tokenized existing SEC-registered shares directly to investors, bypassing underwriters and enabling instant settlement via stablecoins, with first offerings anticipated in 2026 (December 10, 2025) 67.
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Renzo Reserve introduced its first strategy supporting the Superstate USCC vault, giving all users indirect access to Superstate's regulated Crypto Carry Fund, which is ordinarily limited to Qualified Purchasers (December 9, 2025) 8.
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Robert Leshner shared his vision for on-chain finance, emphasizing that tokenizing real-world assets like securities is gaining momentum due to improved regulatory clarity, and that mainstream adoption hinges on integrating tokenized assets into DeFi use cases similar to stablecoins (November 19, 2025) .
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Superstate's platform overview highlighted its bridge between traditional finance and DeFi, serving qualified purchasers and protocols with efficient collateral, yield generation, and integration across onchain and offchain venues (October 15, 2025) 3.
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Superstate launched "Opening Bell," an on-chain equities platform initially listing shares of SOL Strategies on Solana, enabling companies to issue and trade public shares outside traditional hours while pursuing eventual U.S. exchange listings including NASDAQ (May 8, 2025) 10.
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Plume Network partnered with Superstate to power its multichain expansion, giving Plume users access to Superstate's USTB and USCC funds and expanding tokenized real-world asset offerings on the Layer 1 blockchain (February 11, 2025) 11.
About & Links
About & Links
Superstate is a financial technology firm focused on public capital markets. They connect financial assets with crypto capital markets to expand access, improve liquidity, and advance capital formation through on-chain public listings and tokenized investment products.
- Superstate Short Duration U.S. Government Securities Fund (USTB): This is a private fund that invests in U.S. Treasury and Agency securities with short durations. The Fund aims for returns aligned with the federal funds rate. Ownership in the Fund is represented by an ERC-20 token, USTB, or book-entry recordkeeping. The fund has a management fee of 0.15%, and it allows investors the flexibility of self-custody or using institutional custodians. The Fund is available on multiple major blockchains.
- The Superstate Crypto Carry Fund (USCC): This offers investor access to crypto basis (differential between the spot and future price) strategies. The Fund optimizes the yield and risk of crypto cash-and-carry trades across the Bitcoin basis, Ether basis (including staking Ether), and U.S. Treasury securities. Ownership in the Fund is recognized by an ERC-20 token, USCC, or book-entry recordkeeping. Subscriptions and redemptions are facilitated through USD or USDC, with liquidity each market day. The Fund is available on multiple major blockchains.
- Opening Bell: Opening Bell is a platform that enables high-growth public and private companies to list their shares in crypto capital markets. Built for companies that want more control, speed, and investor reach than traditional paths allow, Superstate’s Opening Bell uses on-chain infrastructure to deliver a compliant listing process that makes company shares tradable sooner, unlocks secondary liquidity, and connects their business to a broader investor base.
Sector Rank
n/a, n/a
Sub-Sector Rank
n/a, n/a
Contracts
API ID
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