GSR Unveils First ETF, Offering Simplified Access to Top Cryptocurrencies

GSR, a prominent crypto trading firm, has launched its inaugural exchange-traded fund (ETF), marking its entry into a rapidly expanding segment of the digital asset market. This move is driven by increasing investor demand for regulated crypto exposure. The GSR Crypto Core3 ETF, listed on Nasdaq under the ticker BESO, offers investors exposure to three major cryptocurrencies: bitcoin, ether, and solana. With a management fee of 1%, the fund combines active portfolio management with the ability to generate staking rewards on eligible assets. The launch of crypto ETFs has gained significant traction among both retail and institutional investors seeking easier access to digital assets via traditional brokerage accounts. While most US-listed crypto ETFs have focused on single assets, particularly bitcoin, others have introduced basket funds, similar to Core3, which bundles 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 crypto 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. The fund allocates assets actively 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. This move expands GSR's business beyond trading and market making into asset management, leveraging its expertise in providing liquidity and over-the-counter trading services in crypto markets over the past decade. The ETF also introduces staking rewards, a feature not commonly found in traditional investment vehicles but available in some existing crypto ETFs, including 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 crypto markets, and with Core3, we are extending that expertise into a product accessible to a broader range of investors,' said GSR CEO Xin Song.