Bitwise launches self-custodied tokenized stock portfolios with Coinbase

Bitwise Asset Management has introduced self-custodied tokenized stock portfolios on Coinbase, enabling eligible non-US investors to maintain assets within their own wallets. The company's automated portfolios aim to replicate preset investment strategies using Coinbase's recently launched tokenized US stocks. Bitwise's initial offering consists of three strategies, namely Mag7X, robotics and AI leaders, which include major tech stocks such as Apple, Nvidia, Microsoft, Tesla, and SpaceX.

The tokenized stocks' total value currently stands at $2.49 billion, a 5.18% increase over the past month. These assets are held by an estimated 2.25 million investors, with $27.28 billion in monthly transfer volume recorded on rwa.xyz. Unlike standard funds, the tokenized stocks remain in users' non-custodial wallets, with Bitwise determining the investment methodology and Glider executing trades and rebalancing.

Users retain individual tokens, allowing for potential utilization in Decentralized Finance (DeFi) applications for lending or borrowing, albeit subject to the inherent risks of those protocols. The launch of Bitwise's tokenized stock portfolios coincides with Coinbase's recent rollout of US stocks on the Base network, enabling eligible non-US users to trade these assets 24/7 and utilize them across DeFi applications.

The move comes on the heels of the launch of Coinbase's tokenized US stocks, which has been well-received by users seeking increased accessibility and flexibility in trading.