GSR Unveils Its Inaugural ETF, Offering Investors a Simplified Way to Invest in Top Cryptocurrencies

GSR, a prominent cryptocurrency trading firm, has introduced its first exchange-traded fund (ETF), marking its entry into a rapidly growing segment of the digital asset market, driven by increasing investor demand for regulated cryptocurrency exposure. The GSR Crypto Core3 ETF, listed on Nasdaq under the ticker symbol BESO, provides investors with exposure to three major cryptocurrencies: bitcoin, ether, and solana. The fund has a management fee of 1% and incorporates both active portfolio management and the potential to earn staking rewards on eligible assets. This launch occurs as cryptocurrency ETFs gain popularity among both individual and institutional investors seeking easier access to digital assets through traditional brokerage accounts. While most US-listed cryptocurrency ETFs have focused on single assets, particularly bitcoin, some have shifted towards basket funds, similar to Core3, which combines multiple tokens into a single product and adjusts allocations on a weekly basis. GSR stated that the fund aims to reflect two primary themes in cryptocurrency markets: bitcoin's role as a macro asset and the growth of blockchain platforms like Ethereum and Solana, which support applications such as stablecoins and tokenized assets. According to GSR, 'the fund allocates actively across the three assets and rebalances weekly based on research-driven signals designed to pursue additional returns.' Framework Digital Advisors will serve as the fund's investment adviser. This move expands GSR's business beyond trading and market making into asset management. Having spent over a decade providing liquidity and over-the-counter trading services in cryptocurrency markets, the firm is now seeking to package that expertise into investment products. The ETF also introduces staking rewards, a feature not commonly available in traditional investment vehicles but one that has been added to some existing cryptocurrency ETFs, including the largest, BlackRock's iShares Bitcoin Trust (IBIT). This feature enables the fund to generate yield from certain blockchain networks while holding assets. 'GSR has spent over a decade building efficient cryptocurrency markets, and with Core3, we are extending that expertise into a product accessible to a broader range of investors,' said GSR CEO Xin Song.