Bitwise Asset Management has launched Automated Token Portfolios, or ATPs, giving eligible investors outside the United States a way to follow professionally designed stock models while keeping tokenized assets in their own wallets. The product replaces the conventional pooled-fund structure with rules-based portfolios that remain under investor custody, while Glider provides the technology used to implement and rebalance the allocations.
In its official ATP launch announcement, Bitwise said the portfolios use Coinbase Tokenized Stocks and are implemented by independent automation platform Glider. Bitwise publishes the target portfolio weights but does not custody assets, control user wallets or execute individual transactions, with rebalancing handled through session credentials authorized by each investor.
Self-Custody Replaces the Traditional Fund Wrapper
The initial lineup consists of Mag7X, Robotics and AI Leaders strategies. Mag7X provides equal-weighted exposure to the Magnificent Seven companies plus SpaceX, while the other portfolios target businesses associated with robotics and artificial intelligence. The three strategies are scheduled to roll out progressively rather than becoming universally available at the same moment.
Bitwise charges a 0.15% methodology access fee, excluding trading costs and separate fees charged by Glider. Because investors retain their assets in non-custodial wallets, the model differs materially from an ETF or traditional investment fund in which securities are held within a pooled vehicle. Professional portfolio construction and asset custody are effectively separated, with Bitwise providing the methodology and Glider supplying the execution layer.
The underlying assets are Coinbase Tokenized Stocks. Bitwise said they are issued by a Coinbase entity licensed in Abu Dhabi Global Market, while Coinbase represents that the tokens are backed 1:1 by equity shares and provide certain shareholder rights subject to applicable conditions and prospectus terms. Bitwise explicitly notes that it has not independently verified Coinbase’s representations concerning backing, shareholder rights or redeemability, an important limitation for investors assessing the structure.
Onchain Portfolios Add Flexibility and New Risks
Glider’s official product announcement describes the portfolios as non-custodial strategies in which tokenized stocks remain in investors’ wallets while automation keeps holdings aligned with Bitwise’s target allocations. The structure makes professional investment models portable to the wallet rather than requiring investors to transfer ownership to an asset manager.
Keeping the individual tokens onchain may also make them usable in compatible DeFi applications, including lending or collateral strategies. That flexibility introduces additional smart-contract, liquidation and protocol risks that would not necessarily exist in a conventional model portfolio, particularly when investors deploy the assets beyond the ATP itself.
Access remains restricted to eligible non-U.S. persons, and Bitwise stresses that ATPs are not personalized investment advice and can involve substantial risk, including total loss. The larger test will be whether self-custodied automated portfolios can deliver reliable rebalancing and sustained demand while preserving the operational discipline investors expect from professionally constructed investment products.
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