Bitwise CEO Hunter Horsley has teased a new tokenized stocks product built on Coinbase's newly launched tokenized stocks on Base, following the company's strong first half performance. As reported by Bitwise, the asset manager attracted more than $1.8 billion in net inflows during H1 2026 despite the crypto bear market. The company reported that more than $100 million flowed into each of its four major product areas: ETFs and ETPs, private active and alpha strategies, staking, and vaults. Horsley had teased the upcoming launch a day earlier, saying Bitwise would introduce a "first-of-a-kind new product type" focused on serving "onchain natives." The firm has not yet disclosed full details of the product, but its latest post makes clear that tokenized stocks on Base will be at the center of the new offering.
Bitwise has launched three automated tokenized stock portfolios (ATPs) powered by Coinbase tokenized stocks for eligible non-U.S. investors. According to Bitwise's August 25 announcement, these Automated Token Portfolios allow users to copy professionally designed stock models inside their own wallets while maintaining self-custody of tokenized stocks. The portfolios feature automatic rebalancing through Glider platform and carry a 0.15% methodology access fee that excludes trading costs and separate platform charges. As reported by BlockWeeks, the $9 billion asset manager launched these products the day after Coinbase's tokenized equities went live on its Base network around August 24, 2026, representing a product that sounds like a robo-advisor got a blockchain makeover. According to PRNewswire, the ATPs are institutionally designed portfolios of tokenized stocks that users can replicate automatically in their wallets, with tokenized stocks remaining in investors' non-custodial wallets at all times.
The first three portfolios cover specific investment themes with equal-weighted positions across major technology companies. The Bitwise Mag7X ATP includes Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, and Tesla, alongside privately held SpaceX. The Bitwise Robotics ATP focuses on robotics and autonomous systems companies including Tesla, Nvidia, and Amazon. For artificial intelligence exposure, the Bitwise AI Leaders ATP comprises Nvidia, Microsoft, Alphabet, Meta, Amazon, SpaceX, Tesla, and Sandisk. Unlike conventional funds, each ATP publishes target allocations rather than pooling capital, with Glider executing transactions and adjusting wallet holdings when positions deviate from Bitwise's stated weights. As noted by BlockWeeks, each portfolio uses equal-weighted exposure rather than market-cap weighting, and the ATPs don't create an advisory or fiduciary relationship between Bitwise and the investor, functioning purely on a rules-based model. According to PRNewswire, the inaugural Automated Token Portfolios will roll out in the coming weeks and provide exposure to key investment themes.
The portfolios utilize Coinbase stock tokens that operate on the Base platform and represent beneficial interests in shares held through segregated custody. According to Coinbase reports, the initial rollout covered Apple, Nvidia, Meta, and Alphabet under the B20 token standard, with Coinbase Onchain SPV Ltd. issuing the securities through the Abu Dhabi Global Market. Alpaca Securities purchases, sells, and holds the underlying shares, while Coinbase represents the tokens are backed one-to-one with shareholder rights. The ADGM framework provides a regulatory environment friendlier to tokenized asset issuance, and operating outside US jurisdiction gives Bitwise and Coinbase room to experiment without navigating SEC oversight. Coinbase's tokenized stock infrastructure supports 24/7 trading and automatic dividend distribution, with the tokens issued under the Abu Dhabi Global Market framework. As reported by PRNewswire, tokenized stocks are issued by a Coinbase entity licensed in the Abu Dhabi Global Market (ADGM) and 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.
Despite tracking U.S.-listed companies, the ATPs are available only to eligible non-U.S. persons in supported jurisdictions, defined by reference to Regulation S under the Securities Act of 1933. As reported by Bitwise, the products have not been registered for sale to U.S. persons, and the company's U.S. investment adviser registration applies only to separate advisory business. For non-U.S. holders, dividends face a 30% U.S. withholding rate unless reduced by applicable tax treaties, while the issuer charges a 5% distribution fee before withholding and reinvestment. The restriction to eligible non-U.S. persons reflects the regulatory reality of tokenized securities in America, with the ADGM framework offering a more favorable regulatory environment for tokenized asset issuance. According to PRNewswire, 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). The issuer charges a 5% distribution fee before withholding and reinvestment, and users are not required to transfer assets to a pooled vehicle or surrender custody to a fund sponsor.
According to Bitwise Chief Investment Officer Matt Hougan, the structure allows users to keep assets in their own wallets while accessing professional models, representing a shift from traditional fund structures. The launch follows Bitwise's expansion of onchain products in 2026, including the January introduction of Morpho vaults and February expansion of model-portfolio services for financial advisers. Earlier in August, Bitwise partnered with Superstate on plans to record ownership of selected fund shares on a blockchain, with the Bitwise Solana Staking ETF identified as the first potential candidate, though no assurance exists regarding tokenized share launch. The ATPs build on Bitwise's earlier work with digital asset model portfolios launched in 2026, extending the firm's reach from pure crypto allocations into tokenized traditional equities. As noted by PRNewswire, ATPs unlock a new way for people to access thematic exposures more quickly and precisely than many traditional structures, with Hougan stating that "ATPs mean you can keep the assets in your own wallet, and the model comes to you." The risk side deserves attention, as self-custody means self-responsibility, and because no fiduciary relationship exists, investors who lose assets have limited recourse against Bitwise itself, though ATP holdings could potentially be used as collateral in lending markets or deployed in yield strategies within DeFi protocols.
