Digital asset manager Bitwise said it is offering automated portfolios of tokenized stocks, allowing eligible investors to hold and automatically rebalance baskets of U.S. equities directly in their crypto wallets.
The products, called Automated Token Portfolios (ATPs), use Coinbase’s recently debuted tokenized U.S. stocks, with portfolio technology provider Glider handling the rebalancing based on models designed by Bitwise. They are available only to eligible investors outside the U.S.
The initial lineup includes portfolios focused on AI, robotics and an expanded version of the Magnificent Seven. The latter equally weights Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOG), Amazon (AMZN), Meta (META) and Tesla (TSLA) alongside SpaceX (SPCX).
Bitwise’s move marks an example of what firms can build on top of tokenized equities beyond simply recreating stock trading on blockchain rails.
Instead of buying into an ETF or another pooled fund via a brokerage account, investors keep the individual stocks in their crypto wallet while software adjusts the portfolio to follow a professional manager’s model.
“For over a century, getting a professional model meant handing your assets to a fund,” Bitwise Chief Investment Officer Matt Hougan said. “ATPs mean you can keep the assets in your own wallet, and the model comes to you.”
The announcement comes a day after Coinbase debuted tokenized versions of Apple, Nvidia, Meta and Alphabet on Base. Coinbase said more stocks are coming, and Bitwise’s portfolios offer a hint at potential additions: Microsoft, Amazon, Tesla, SpaceX and Sandisk are also included in its models. Coinbase hasn’t confirmed its next batch.
The products also expand Bitwise beyond the crypto ETFs for which the $9 billion asset manager is best known. It has recently moved into DeFi vault curation, another form of onchain asset management.
Glider, meanwhile, is a specialist of automated portfolios, and earlier this year teamed up with Ondo Finance to offer personalized portfolios using Ondo’s tokenized stock offerings.
Read more: Tokenization mirrors the $20 trillion ETF boom as blockchain and AI converge, Ondo exec says
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