Bitwise Just Launched the Next Generation of Onchain Investing

Summary

Ryan Rasmussen, Head of Research at Bitwise, joins John Gillen to discuss Bitwise's launch of Automated Token Portfolios (ATPs) with Coinbase and Glider. He explains how ATPs deliver institutionally designed baskets of tokenized stocks directly in crypto wallets and why they could be the next evolution of asset management after ETFs. The conversation also covers tokenization infrastructure, the growth of onchain perpetual futures, regulatory tailwinds, and Ryan's view that crypto is entering a multi-year bull market.

• Bitwise launched the first ATPs: Mag 7X, Robotics, and AI Leaders portfolios built on Coinbase tokenized stocks with Glider automation.
• Ryan frames ATPs as the next stage after mutual funds, index funds, and ETFs due to lower cost, broader access, 24/7 trading, and DeFi composability.
• ATPs are initially not available to US investors, though Ryan expects the regulatory environment to continue improving.
• He sees tokenization as bullish for infrastructure including Coinbase, Ethereum, Solana, and Hyperliquid.
• Ryan expects onchain perpetual futures to keep growing and intensify competition among Coinbase, Hyperliquid, Robinhood, and CME.
• New SEC/CFTC digital-asset fundraising rules are expected to drive capital into crypto venture and early-stage companies.
• Ryan believes the crypto market is in a multi-year bull market and expects Bitcoin to finish the year higher.