GSR Unveils Its Maiden ETF, Offering a Simplified Route for Investors to Bet on Top Cryptocurrencies

GSR, a prominent cryptocurrency trading firm, has introduced its inaugural exchange-traded fund (ETF), marking its entry into a rapidly expanding segment of the digital asset market. This move comes as investor demand for regulated cryptocurrency exposure continues to escalate. The GSR Crypto Core3 ETF, listed on Nasdaq under the ticker BESO, provides exposure to three major cryptocurrencies: bitcoin, ether, and solana. The fund has a management fee of 1% and features both active portfolio management and the ability to generate staking rewards on eligible assets. The launch of this ETF is timely, given the growing popularity of cryptocurrency ETFs among both retail and institutional investors seeking straightforward access to digital assets via 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. According to GSR, the fund aims to reflect two primary themes in cryptocurrency markets: bitcoin's role as a macro asset and the growth of blockchain platforms such as Ethereum and Solana, which support applications like stablecoins and tokenized assets. The fund allocates assets across the three cryptocurrencies and rebalances weekly based on research-driven signals designed to pursue additional returns. Framework Digital Advisors will serve as the fund's investment adviser, and the move marks GSR's expansion into asset management, beyond its traditional trading and market-making activities. Having spent over a decade providing liquidity and over-the-counter trading services in cryptocurrency markets, GSR is now seeking to leverage its expertise into investment products. The ETF also introduces staking rewards, a feature not commonly available in traditional investment vehicles but one that has been incorporated into some existing cryptocurrency ETFs. This feature enables the fund to generate yield from certain blockchain networks while holding assets. According to GSR CEO Xin Song, '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.'