GSR Introduces First ETF, Offering Simplified Access to Top Cryptocurrencies

GSR, a prominent cryptocurrency trading firm, has launched its inaugural exchange-traded fund (ETF), marking its foray into the rapidly expanding digital asset market. The GSR Crypto Core3 ETF, listed on Nasdaq under the ticker BESO, provides 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. This launch comes as crypto ETFs gain popularity among both retail and institutional investors seeking convenient access to digital assets via traditional brokerage accounts. Most U.S.-listed crypto ETFs have focused on single assets, primarily bitcoin, but some have shifted towards basket funds like Core3, which bundles multiple tokens into a single product and adjusts allocations weekly. The fund aims to reflect two key 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. According to GSR, the fund actively allocates 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, leveraging its over-a-decade-long expertise in providing liquidity and over-the-counter trading services in crypto markets. The ETF 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.