GSR Unveils First ETF, Providing Investors with Simplified Access to Top Cryptocurrencies

GSR, a prominent crypto trading firm, has launched its inaugural exchange-traded fund (ETF), marking its entry into the rapidly growing digital asset management sector. The GSR Crypto Core3 ETF, listed on Nasdaq under the ticker BESO, provides investors with exposure 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 opportunity to earn staking rewards on eligible assets. This launch comes as crypto ETFs gain popularity among both retail and institutional investors seeking easy access to digital assets through traditional brokerage accounts. While most US-listed crypto ETFs have focused on single assets, some have shifted towards basket funds, similar to Core3, which combines multiple tokens into a single product and adjusts allocations weekly. 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. According to GSR, the fund allocates assets actively 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.