Bitwise Debuts Automated Token Portfolios Using Coinbase Stock Tokens

The new offerings, managed by Bitwise Investment Manager, utilize the Glider platform to execute trades and maintain target asset weights. Unlike traditional funds that pool investor capital, the ATP structure leaves assets in the user's wallet. Glider handles the rebalancing process once a user provides session credentials, charging a 0.15% methodology fee for the service.

Bitwise Chief Investment Officer Matt Hougan emphasized that the model shifts the paradigm of professional asset management. Instead of handing over custody to a fund, investors retain direct ownership of the tokens, which may allow them to deploy the assets into decentralized finance protocols. The initial portfolios include the Mag7X ATP, focused on technology giants and SpaceX; the Robotics ATP, targeting autonomous systems; and the AI Leaders ATP, covering major infrastructure providers.

While the underlying securities are backed by shares held in segregated custody by Coinbase Onchain SPV Ltd., Bitwise clarified that it has not independently verified the backing or redemption terms of these tokens. Furthermore, the products are strictly limited to non-U.S. persons under Regulation S. Bitwise remains a U.S.-registered investment adviser, but the company noted that the SEC has neither reviewed nor endorsed these specific portfolios, leaving American investors excluded from the rollout.