GSR launches Core3 crypto ETF with staking rewards

GSR launched its first exchange-traded fund, the GSR Crypto Core3 ETF (BESO), on Wednesday. The fund offers spot exposure to Bitcoin, Ether and Solana and includes staking rewards for holders. It uses a dynamic allocation strategy and charges a 1% management fee.

Nasdaq data showed 185,574 shares traded on BESO’s first day, worth about $4.8 million. The fund closed at $26.04 and later traded at $33 in after-hours trading. GSR announced the product in a company statement and on X.

GSR said allocations among the three tokens will be rebalanced weekly using research-driven signals. The firm published a model portfolio that assigns 51.4% to Ether, 41.67% to Solana and 6.93% to Bitcoin in an optimized allocation.

GSR was founded in 2013 by former Goldman Sachs traders Cristian Gil and Richard Rosenblum. The firm has operated as a market maker and liquidity provider in crypto markets and will manage BESO’s multi-asset holdings and staking operations.

Xin Song, GSR’s chief executive officer, commented: “Our ETF strategy reflects our deep understanding of how this asset class is evolving.” The fund’s management fee and staking feature are part of the firm’s product structure.

BESO’s launch comes amid other recent activity in crypto ETFs. Morgan Stanley began trading a spot Bitcoin ETF on April 8 and reported notable net inflows. On April 14, Goldman Sachs filed for a Bitcoin Premium Income ETF designed to generate passive income alongside potential price appreciation.

GSR says weekly rebalancing and its signal-driven approach are intended to adjust holdings to changing market conditions while providing investors a single product that combines exposure to three cryptocurrencies and staking rewards.