GSR Enters Crypto ETF Market with Multi-Asset Fund Tracking Bitcoin, Ether, and Solana

Institutional cryptocurrency trading platform GSR unveiled its inaugural exchange-traded fund on Wednesday, capturing approximately $5 million in trading volume during its first day of operations.

The newly launched GSR Crypto Core3 ETF, trading under the ticker symbol BESO, provides investors with exposure to the three largest cryptocurrencies by market capitalization—Bitcoin, Ether, and Solana—while incorporating staking rewards as an additional income stream. The fund carries a management fee of 1% and employs what GSR describes as a "dynamic allocation strategy" to maximize investor returns.

Strong Opening Performance

According to Nasdaq data, BESO commenced trading with 185,574 shares exchanged, generating approximately $4.8 million in volume. The fund closed its inaugural session at $26.04 per share before climbing to $33 during after-hours trading.

Strategic Market Positioning

GSR's entry into the crypto ETF space arrives amid a broader wave of major financial institutions launching or preparing to launch cryptocurrency investment vehicles. Morgan Stanley introduced a spot Bitcoin ETF on April 8, which has already garnered $163.8 million in net inflows. Goldman Sachs followed suit on April 14, filing for a Bitcoin Premium Income ETF designed to generate passive income while maintaining upside exposure to Bitcoin price movements.

Founded in 2013 by former Goldman Sachs traders Cristian Gil and Richard Rosenblum, GSR has established itself as one of the industry's most prominent cryptocurrency market-making platforms. CEO Xin Song remarked that the ETF expansion reflects the company's commitment to broadening access to institutional-grade crypto services: "Our ETF strategy reflects our deep understanding of how this asset class is evolving."

Allocation and Rebalancing Approach

The BESO fund employs a weekly rebalancing methodology grounded in research-driven analytical frameworks aimed at optimizing returns. GSR's published model portfolio analysis reveals a notably unconventional weighting structure, with Ether commanding 51.4% of allocations and Solana representing 41.67%, while Bitcoin occupies a comparatively modest 6.93% position within the fund's composition.