Bitwise Launches Automated Tokenized US Stock Portfolios With Coinbase, Glider
Summary
- Bitwise has launched Automated Token Portfolios (ATP), a service that automatically builds and rebalances tokenized US stock portfolios for eligible non-US investors.
- ATP invests in themes including M7+SpaceX, robotics and artificial intelligence (AI) using Coinbase’s tokenized stocks and Glider’s on-chain investment platform, and charges a 0.15% fee for its methodology.
- Investors can track Bitwise portfolios while keeping assets in non-custodial wallets, and can also use those holdings for lending or as collateral in decentralized finance (DeFi) protocols.
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Bitwise has launched a service for eligible non-US investors that automatically builds and rebalances portfolios of tokenized US stocks.
The crypto asset manager introduced Automated Token Portfolios, or ATP, for eligible non-US investors, The Block reported on August 25. ATP uses rule-based model portfolios designed by Bitwise investment managers. It is built on Coinbase’s tokenized stocks and operates through Glider’s on-chain investment platform.
The initial portfolios are centered on themes including the Magnificent Seven plus SpaceX, robotics and leading artificial intelligence companies. Investors can hold tokenized stocks directly in their own wallets while automatically tracking and rebalancing portfolios designed by Bitwise. The methodology fee is 0.15%, with trading and platform fees charged separately.
Unlike traditional funds, the service does not require investors to hand over their assets to an asset manager. Tokenized stocks remain in investors’ non-custodial wallets and are not transferred to a pooled fund. Investors who are willing to take on the related risks can also lend those holdings through decentralized finance, or DeFi, protocols or use them as collateral, Bitwise said.
Matt Hougan, Bitwise’s chief investment officer, said professional investment models historically required investors to place assets in a fund. With ATP, investors can keep those assets in their own wallets. The structure can provide thematic investment opportunities faster and with greater precision than traditional investment vehicles, he added.
Bitwise has been expanding its lineup of on-chain investment products this year. In January, it introduced a non-custodial on-chain vault product in partnership with Morpho. In February, it launched seven crypto model portfolios for financial advisers. It later expanded access to let retail investors use those model portfolios as well.
