On Aug. 25, Bitwise, a major asset manager, announced that it would soon launch a trio of automated token portfolios (ATPs), which would be built using tokenized U.S. stocks issued by Coinbase Global (COIN -6.01%). An ATP is a professionally picked basket of stocks that you hold in a crypto wallet, with each company’s shares represented as crypto tokens. The point of holding those assets as crypto tokens is that you can put their value to work in various crypto applications, unlike if you were to hold the stocks directly.

So is this new piece of financial tech going to become the future of crypto investing?

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ATPs are a lot like ETFs

As you probably know, an exchange-traded fund (ETF) is a vehicle that pools…