Bitwise has launched automated portfolios built from tokenized US stocks, allowing eligible investors outside the US to hold and automatically rebalance baskets of equities directly in their crypto wallets. The portfolios, called Automated Token Portfolios (ATPs), use tokenized stocks recently introduced by Coinbase.
Portfolio technology provider Glider handles the automatic rebalancing based on models created by Bitwise. The initial products focus on artificial intelligence, robotics and an expanded version of the Magnificent Seven.
The move goes beyond simply putting stocks on a blockchain. Instead of buying an ETF through a traditional brokerage account, investors can hold individual tokenized stocks in their crypto wallets while software automatically adjusts their holdings according to a selected investment model.
Bitwise Chief Investment Officer Matt Hougan said the approach changes how investors can access professional investment strategies. Traditionally, investors have had to place their assets in a fund to follow a professional model. With the new portfolios, the investment model can instead be applied to assets held in the investor’s own wallet.
The first lineup includes an AI-focused portfolio, a robotics portfolio and an expanded version of the Magnificent Seven. The latter equally weights Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta and Tesla, while also including SpaceX.
The launch comes shortly after Coinbase introduced tokenized versions of major US stocks including Apple, Nvidia, Meta and Alphabet on its Base network. Coinbase has said more stocks will be added, although it has not confirmed which companies will come next.
Bitwise’s portfolios already offer a clue about some possible additions. Microsoft, Amazon, Tesla, SpaceX and Sandisk feature in the investment models used for the products.
For Bitwise, the launch also represents an expansion beyond its well-known crypto ETF business. The asset manager has recently moved into other areas of onchain asset management, including DeFi vault selection.
Glider, which provides the technology behind the automated portfolios, has experience in this area as well. Earlier this year, it partnered with Ondo Finance to develop personalised portfolios using Ondo’s tokenized stock products.
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