Quick Breakdown
- Spark invests $100M in Superstate’s USCC fund to tap into 9.26% crypto yields.
- Declining U.S. Treasury returns drive DeFi protocols toward alternative yield sources.
- The move strengthens Spark’s diversification strategy within the Sky ecosystem.
Spark targets higher returns with $100m superstate investment
Decentralized finance (DeFi) lending protocol Spark has deployed $100 million into Superstate’s Crypto Carry Fund (USCC) as it seeks to enhance yield performance amid waning returns from U.S. Treasuries. The move, announced on October 23, positions a portion of Spark’s $9 billion USDS stablecoin reserve into a strategy designed to capture lucrative crypto basis trade yields.
Spark has deployed $100 million into @SuperstateInc‘s Crypto Carry Fund (USCC).
USCC generates competitive returns from crypto basis strategies via CME futures, a strong complement to Spark’s reserve strategy. https://t.co/p3UwHnLBlC pic.twitter.com/7h7SK3Tbap
— Spark (@sparkdotfi) October 23, 2025
Capturing yield from basis trades
Superstate’s USCC fund operates a market-neutral arbitrage model, profiting from the price gap—known as the “basis”—between crypto assets such as Bitcoin and Ethereum and their futures contracts on the Chicago Mercantile Exchange (CME). The fund currently boasts a 9.26% 30-day yield, significantly higher than the declining returns of U.S. Treasury bonds.
This yield opportunity provides Spark a means to maintain competitive returns for holders of sUSDS, its savings token, especially as Treasury yields hit six-month lows—a development threatening DeFi platforms reliant on tokenized government securities.
Strengthening the Sky ecosystem
The $100 million investment marks another major step in Spark’s broader strategy to diversify and optimize reserve management. The protocol has been actively expanding its footprint within the Sky ecosystem, following substantial allocations earlier this year, including $1.1 billion deployed into Ethena’s USDe and sUSDe tokens, $25 million invested in Maple Finance lending pools and the launch of a $1 billion Tokenization Grand Prix aimed at driving tokenized asset adoption
Through these initiatives, Spark is reinforcing its position as a central liquidity layer for DeFi while pursuing innovative yield strategies beyond traditional fixed-income assets.
Meanwhile, CleanSpark, Inc. widely recognized as America’s Bitcoin Miner, recently expanded its capital strategy by securing an additional $100 million in Bitcoin-backed financing through Coinbase Prime. The funds will be allocated toward scaling Bitcoin mining operations, growing the company’s energy portfolio, and investing in high-performance computing (HPC) infrastructure.
If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
