Bitwise Introduces Self‑Custodied Tokenized Stock Portfolio on Base

Bitwise launched its Automated Token Portfolios (ATPs) on the Base blockchain, offering eligible non‑U.S. investors a way to hold Coinbase‑issued tokenized stocks directly in their own wallets. The service uses Glider to execute and rebalance the portfolio according to Bitwise’s model, while neither Bitwise nor Glider retain custody of the tokens.

Initial Offering: Mag7X Strategy

At launch, only the Mag7X portfolio is active. It is intended to be an equal‑weight basket of eight technology companies—Apple, Microsoft, Nvidia, Alphabet, Amazon, Meta, Tesla and SpaceX. Currently, the live Mag7X holds the four tokenized stocks that Coinbase has issued so far: Apple, Alphabet, Meta and Nvidia, each at a 25 % weight. The remaining constituents will be added as Coinbase tokenizes them.

Fees and Incentives

• Management fee: 0.15 % of assets under management.
• Coinbase provides an additional 10 % incentive that accrues to the strategy.

Operational Details

Glider performs trade execution and periodic rebalancing using session credentials authorized by the user. Bitwise does not hold any private keys, session keys, or signing authority, and it does not initiate transactions on behalf of users.

Regulatory Scope

Access is limited to non‑U.S. persons under Regulation S of the Securities Act of 1933, in jurisdictions deemed eligible. The tokenized stocks are issued by a Coinbase entity licensed in the Abu Dhabi Global Market (ADGM). Coinbase represents that each token is backed one‑for‑one by underlying shares, though Bitwise has not independently verified the backing, shareholder rights, or redemption terms. Holder rights are governed by Coinbase’s terms, the ADGM prospectus, and ADGM law.

Future Models

Bitwise announced three portfolio models. In addition to Mag7X, the Robotics and AI Leaders portfolios are listed as “coming soon” and will be activated once the corresponding tokenized stocks become available.