What’s new: GSR has launched its first ETF built around three major tokens with active management layered on top.
The fund holds Bitcoin, Ethereum and Solana, with weekly rebalancing to adjust market exposure, said GSR Managing Director of Asset Management, Andy Baehr on CoinDesk’s Public Keys.
It includes staking rewards for Ethereum and Solana, adding yield on top of price exposure
The goal: offer a core portfolio investors can hold without constant trading decisions
Why it matters: Crypto ETFs are shifting from trading tools to long-term allocation products.
Institutional players like Morgan Stanley and Goldman Sachs are tailoring crypto ETFs for wealth clients, Andy said
Advisors increasingly need simple, diversified crypto exposure beyond just Bitcoin
GSR is betting investors want a single, easy entry point rather than complex multi-token baskets
The strategy: A mix of macro stability and growth upside.
Bitcoin serves as the macro asset and store of value in the portfolio
Ethereum and Solana represent growth tied to stablecoins, tokenization and on-chain activity
Active weighting aims to tilt toward Bitcoin in downturns and toward ETH/SOL in growth cycles
Reading between the lines: This is a bet on core crypto consolidation.
GSR rejected market-cap weighting as too Bitcoin-heavy and broad indexes as too complex
The firm sees Ethereum and Solana as the leading layer 1 platforms competing for long-term dominance
Weekly rebalancing is designed to outperform passive crypto baskets
What comes next: More ETF products could follow.
GSR has filed for five ETFs and may expand its lineup, Andy said
The firm is also building out advisory and token launch services after recent acquisitions
Regulatory clarity — including treatment of major tokens as commodities — is opening doors for new products
ETFsAI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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