Bitwise Launches Automated Token Portfolios (ATPs), Powered by Coinbase and Glider

Bitwise Asset Management, the global crypto asset manager with $9 billion in client assets, today announced the launch of Automated Token Portfolios (ATPs). ATPs are institutionally designed portfolios of tokenized stocks that users can replicate automatically in their wallets. With today’s launch, eligible persons can curate their stock portfolio to align with one of Bitwise’s published model portfolios while keeping custody of their assets. 

Bitwise ATPs are powered by Coinbase’s recently launched tokenized U.S. stocks and implemented by Glider, an independent platform whose technology automatically rebalances wallet holdings to keep them aligned with Bitwise’s published model portfolio weights.

As of launch, Coinbase Tokenized Stocks and Automated Token Portfolios are available only to non-U.S. persons in eligible jurisdictions outside of the U.S.

With Automated Token Portfolios, tokenized stocks remain in investors’ non-custodial wallets at all times. Users are not required to transfer assets to a pooled vehicle or surrender custody to a fund sponsor. Because the tokens remain in investors' own wallets, investors may have the opportunity to lend or borrow against them on decentralized finance (DeFi) protocols, subject to applicable risks, including the risk of full liquidation.

"For over a century, getting a professional model meant handing your assets to a fund. ATPs mean you can keep the assets in your own wallet, and the model comes to you,” said Matt Hougan, CIO of Bitwise. “ATPs unlock a new way for people to access thematic exposures more quickly and precisely than many traditional structures. We're just scratching the surface.”

Bitwise’s inaugural Automated Token Portfolios will roll out in the coming weeks and provide exposure to a series of key investment themes:

• Bitwise Mag7X ATP: Equal-weighted exposure to eight of the largest companies in the world: the Magnificent 7 (Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla) plus SpaceX. 

• Bitwise Robotics ATP: Equal-weighted exposure to leaders in the design, manufacture, and deployment of robotics and autonomous systems, including Tesla, Nvidia, and Amazon.

• Bitwise AI Leaders ATP: Equal-weighted exposure to the companies leading innovation in artificial intelligence, including Nvidia, Microsoft, Alphabet, Meta, Amazon, SpaceX, Tesla, and Sandisk.

Bitwise ATPs have a 0.15% methodology access fee, exclusive of trading fees and any fees charged by Glider for platform services. Eligible persons can access Bitwise ATPs via the Glider platform.

To learn more, visit bitwiseinvestments.com/crypto-funds/automated-token-portfolios.

Risks and Important Information

Automated Token Portfolios (“ATPs”) are published, rules-based model portfolios designed by Bitwise Investment Manager, LLC (“Bitwise”), a U.S. registered investment adviser. ATPs are not personalized investment advice. No advisory, fiduciary, or contractual relationship is created between Bitwise and any user who selects an ATP. Bitwise does not exercise discretion over, custody, or control any user’s assets, and does not initiate or execute any transaction. All implementation and rebalancing is performed by Glider, an independent platform, through session credentials authorized by each user. Your use of any ATP is governed by your binding agreement with Glider.

Tokenized stocks are issued by a Coinbase entity licensed in the Abu Dhabi Global Market (ADGM). Coinbase represents that its tokenized stocks are backed 1:1 by equity shares and carry shareholder rights, subject to applicable vesting conditions and the terms of the ADGM-approved prospectus. Bitwise does not issue tokenized stocks and has not independently verified Coinbase’s representations regarding backing, shareholder rights, or redeemability.

ATPs involve a high degree of risk, including the risk of total loss. Past performance does not indicate future results. No person has made any determination that any ATP is suitable for any person. ATPs are available only to eligible persons outside the United States and are not available to U.S. Persons (as defined under Regulation S of the U.S. Securities Act of 1933).

Bitwise’s registration as an investment adviser relates to its separately conducted advisory business and does not mean that the SEC has approved or endorsed any ATP or that any regulatory protections afforded to Bitwise’s advisory clients extend to ATP users.