Bitwise launches self-custodied tokenized stock portfolios with Coinbase

The notable shift here is structural rather than product-level: tokenized equities are moving from custodial wrappers toward self-custody, which changes who bears operational risk and how these instruments could be distributed. Restricting access to eligible non-US investors reflects the regulatory gap that still shapes RWA tokenization, leaving US participants outside this particular model. Whether self-custodied, auto-rebalancing equity portfolios attract meaningful demand — and whether other issuers follow with comparable structures — is the open question worth watching.