GSR Unveils Its Inaugural ETF, Offering Investors Simplified Access to 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. 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 comes with a 1% management fee and features active portfolio management, as well as the ability to generate staking yields on eligible assets. This launch coincides with the increasing popularity of crypto ETFs among both retail and institutional investors seeking convenient access to digital assets through traditional brokerage accounts. While most U.S.-listed crypto ETFs have focused on individual assets, such as 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 capture 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 over-a-decade-long expertise in providing liquidity and over-the-counter trading services in crypto markets. The firm now seeks to package this expertise into investment products. 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.