GSR Introduces Its Inaugural ETF, Offering Investors Simplified Access to Top Cryptocurrencies

GSR, a prominent cryptocurrency trading firm, has unveiled its first exchange-traded fund (ETF), marking its entry into a rapidly expanding 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 BESO, provides investors with access to three major cryptocurrencies: bitcoin, ether, and solana. The fund has a management fee of 1% and features active portfolio management, as well as the ability to generate staking rewards on eligible assets. This launch occurs at a time when crypto ETFs are gaining popularity among both individual and institutional investors seeking straightforward access to digital assets via traditional brokerage accounts. While most U.S.-listed crypto 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 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, as stated by GSR in a press release. 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 over a decade of experience in providing liquidity and over-the-counter trading services in cryptocurrency markets. The firm now seeks to package this expertise into investment products. The ETF also introduces staking rewards, a feature uncommon 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 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.