Spiko Digital Assets Cash & Carry Fund (SPKCC) stablecoin analytics
Answer First
What is Spiko Digital Assets Cash & Carry Fund (SPKCC)?
SPKCC is the USD share class of Spiko's regulated French AIF combining a digital-asset cash-and-carry basis strategy with short-duration T-bill collateral. The static profile records its US Dollar-denominated NAV accounting mechanism as: USD-denominated NAV-accreting fund share; daily NAV is calculated by CACEIS Fund Administration and published on-chain through a Chainlink AggregatorV3-style oracle contract.
Is SPKCC safe?
SPKCC holds a C Safety Score grade (59/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Spiko Digital Assets Cash & Carry Fund uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from PricewaterhouseCoopers Audit, statutory auditor certifying annual accounts (first financial year closes December 2026, so no PwC report exists yet; daily NAV struck by CACEIS Fund Administration; the marketing page's 'four audits a year' refers to Spiko's money market funds); the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Spiko Digital Assets Cash & Carry Fund (SPKCC) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
AI summary / Updated Sep 7, 2026
SPKCC is the dollar share class of Spiko's Digital Assets Cash & Carry Fund, a French professional-fund vehicle whose NAV comes from BTC and ETH basis trades rotated against short-duration T-bills. It is a fund share carrying a stablecoin's ticker rather than a dollar promise. The institutional plumbing is unusually complete for crypto carry: Marex as sole strategy counterparty, Coinbase for spot custody, CME for cleared futures, and CACEIS Bank as depositary striking a daily NAV.
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- USD share class of the Spiko Digital Assets Cash & Carry Fund. Spiko's August 2026 disclosure states that the fund buys a note issued by Marex Financial whose value tracks the SPKCCI cash-and-carry index. The index covers BTC, ETH, SOL and XRP through spot/futures basis exposure, with one-month CME futures and cash allocation when carry is insufficient. The fund therefore bears Marex note-issuer default risk; underlying strategy spot custody is not a direct fund holding. CACEIS Bank acts as custodian and depositary.
- Peg Mechanism
- USD-denominated NAV-accreting fund share; daily NAV is calculated by CACEIS Fund Administration and published on-chain through a Chainlink AggregatorV3-style oracle contract. Holdings are restricted to KYC-allowlisted addresses via Spiko's PermissionManager; minting is limited to the daily-operator role and burns to the Redemption contract's burner role.
- Jurisdiction
- France / AMF / French Fonds Professionnel Specialise (FPS) / Alternative Investment Fund
- Proof Of Reserves
- Independent Audit by PricewaterhouseCoopers Audit, statutory auditor certifying annual accounts (first financial year closes December 2026, so no PwC report exists yet; daily NAV struck by CACEIS Fund Administration; the marketing page's 'four audits a year' refers to Spiko's money market funds) Reserve source
Next Actions
Exact bot target: /subscribe dews,depeg,safety spkcc-spiko
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
SPKCC quick answers
What is Spiko Digital Assets Cash & Carry Fund (SPKCC)?
SPKCC is the USD share class of Spiko's regulated French AIF combining a digital-asset cash-and-carry basis strategy with short-duration T-bill collateral. The static profile records its US Dollar-denominated NAV accounting mechanism as: USD-denominated NAV-accreting fund share; daily NAV is calculated by CACEIS Fund Administration and published on-chain through a Chainlink AggregatorV3-style oracle contract.
Is SPKCC safe?
SPKCC holds a C Safety Score grade (59/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Spiko Digital Assets Cash & Carry Fund uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from PricewaterhouseCoopers Audit, statutory auditor certifying annual accounts (first financial year closes December 2026, so no PwC report exists yet; daily NAV struck by CACEIS Fund Administration; the marketing page's 'four audits a year' refers to Spiko's money market funds); the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs SPKCC?
Pharos classifies SPKCC backing as Real-World Asset Backed. Collateral, per the static profile: USD share class of the Spiko Digital Assets Cash & Carry Fund. Spiko's August 2026 disclosure states that the fund buys a note issued by Marex Financial whose value tracks the SPKCCI cash-and-carry index. Reserve evidence: Independent Audit from PricewaterhouseCoopers Audit, statutory auditor certifying annual accounts (first financial year closes December 2026, so no PwC report exists yet; daily NAV struck by CACEIS Fund Administration; the marketing page's 'four audits a year' refers to Spiko's money market funds).
Can SPKCC be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for SPKCC, when applicable, appear in the dossier below.
