Bitwise Creates 3 Tokenized Stock Portfolios With Coinbase and Glider
Key Takeaways
- Bitwise launched 3 ATPs for non-U.S. investors using Coinbase tokenized stocks and Glider automation.
- Bitwise’s ATPs could pressure ETFs by enabling 24/7, self-custodied stock portfolios.
- Bitwise’s 3 ATPs now test whether tokenized stocks can scale into automated wallets.
Bitwise Brings Automated Stock Portfolios Into Crypto Wallets
Bitwise is taking a different route into tokenized equities, launching model portfolios that live directly inside investors’ crypto wallets rather than inside a traditional fund.
The new Automated Token Portfolios (ATPs) are designed by Bitwise, with Coinbase providing the underlying tokenized stocks and and executed through Glider. Investors retain custody of the assets throughout the process.
“When an investor signs up, they’re going to replicate a strategy designed by an institutional investment firm like Bitwise,” Chief Investment Officer Matt Hougan said in a video announcing the product. “They hold tokenized stocks in their own personal wallet, and then it automatically follows the strategy that they’ve selected.”
The products are available only to non-U.S. persons in eligible jurisdictions outside the United States.
Bitwise Starts With AI, Robotics and Mega-Cap Themes
Bitwise said it is launching three initial portfolios. The Mag7X ATP provides equal-weighted exposure to Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla, plus SpaceX.
The Robotics ATP focuses on companies developing humanoid robots, autonomous vehicles and warehouse automation, including Tesla, Nvidia and Amazon.
The AI Leaders ATP includes Nvidia, Microsoft, Alphabet, Meta, Amazon, SpaceX, Tesla and Sandisk.
The structure gives Bitwise more flexibility than a conventional ETF, which can take months to launch and may be constrained by diversification or fund-design requirements.
“For one, you can be more precise. Traditional funds and ETFs often have requirements to hold 10, 20, 30, 40 stocks. What if you want to design a strategy that only has three or four names in it?” Hougan said, adding that the tokenized format can be faster and more responsive to changing markets.
Tokenized Stocks Blur the Line Between Funds and Wallets
The bigger distinction is custody.
Unlike an ETF, where investors own shares in a pooled vehicle, ATP users hold the individual tokenized stocks directly. Glider adjusts the portfolio without taking control of the assets.
Hougan said that creates additional possibilities because the securities are designed to trade around the clock, with potential for lending and margin use, where available.
Bitwise framed the launch as a reversal of its earlier strategy. Its ETFs helped bring crypto assets into traditional finance. ATPs instead bring institutional portfolio construction into crypto-native wallets.
If the model gains traction, tokenization may begin changing not just how securities trade, but how investment products themselves are assembled and distributed.