Bitwise launched Automated Token Portfolios (ATPs) on Tuesday, giving eligible investors outside the U.S. a way to hold Coinbase-issued tokenized stocks directly in their own wallets on Base, while Glider automatically keeps those holdings aligned with Bitwise’s model.
The product expands Coinbase’s tokenized-stock rails from single assets into a rules-based portfolio format. Coinbase’s tokenized stocks went live on Monday with four technology names. Under the setup, Bitwise chooses the constituents and target weights, and Glider handles execution and rebalancing. Bitwise said neither company takes custody of the tokens during that process.
Only Mag7X is active at launch
Bitwise announced three models, but Glider’s Bitwise page shows only Mag7X as active. The Robotics and AI Leaders portfolios are marked as coming soon.
Mag7X is designed to equally weight Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, Tesla, and SpaceX.
At launch, however, the live Mag7X strategy contains only Coinbase’s four currently available stock tokens: Apple, Alphabet, Meta, and Nvidia, each at 25%. Glider said the remaining companies will be added as Coinbase tokenizes them, and those additions will be reflected in user portfolios.
Fees, incentives, and how rebalancing works
Glider lists a 0.15% fee for the live strategy. The portfolio page also states that Coinbase is providing an additional 10% incentive that accrues to the strategy.
Bitwise said rebalancing does not give it control of a user’s wallet. According to the company, Glider makes changes through session credentials authorized by the user, while Bitwise holds no private key, session key, or signing authority and does not initiate transactions.
Access limited to eligible investors outside the U.S.
Access is restricted to non-U.S. persons, as defined under Regulation S of the Securities Act of 1933, and only in eligible jurisdictions. Coinbase’s tokenized stocks went live on Base a day earlier and are also limited to eligible users outside the U.S.
Issuance structure and disclosure language
The tokens are issued by a Coinbase entity licensed in Abu Dhabi Global Market (ADGM). In its disclosure, Bitwise said Coinbase represents that the tokens are backed one-for-one by shares, but Bitwise has not independently verified that backing, shareholder rights, or redemption terms.
Bitwise also said holder rights are governed by Coinbase’s terms, the applicable ADGM prospectus, and ADGM law.