Bitwise Asset Management, a firm overseeing approximately $9 billion in client assets, has launched Automated Token Portfolios (ATPs). The product enables eligible non-US users to replicate institutionally designed model portfolios composed of Coinbase’s tokenized US stocks while maintaining their assets in self-custodial wallets.
Coinbase introduced its tokenized equities on the Base network around August 24, 2026, with Bitwise launching the ATP product the following day. The service operates on a rules-based model and does not establish an advisory or fiduciary relationship between Bitwise and the investor.
Initial Portfolio Offerings
The initial lineup consists of three thematic portfolios:
- Mag7X ATP: Includes Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, Tesla, and SpaceX.
- Robotics ATP: Focuses on automation plays including Tesla and Nvidia.
- AI Leaders ATP: Concentrates on the artificial intelligence supply chain with companies such as Nvidia and Microsoft.
Each portfolio utilizes equal-weighted exposure rather than market-cap weighting and features automatic rebalancing to adjust holdings that drift from target weights.
Custody and Regulatory Framework
The underlying tokenized stocks are issued under the Abu Dhabi Global Market (ADGM) framework and are backed 1:1 by real shares held in regulated custody. Coinbase’s tokenized stock infrastructure supports 24/7 trading and automatic dividend distribution.
The restriction to eligible non-US persons stems from the regulatory environment surrounding tokenized securities in the United States. Operating outside US jurisdiction allows Bitwise and Coinbase to utilize the ADGM framework without navigating SEC oversight.
Risks and Considerations
Because the product relies on self-custody and lacks a fiduciary relationship, investors who lose assets have limited recourse against Bitwise. Additionally, ATP holdings have the potential to be used as collateral in lending markets or deployed in yield strategies within decentralized finance protocols.
