Key Takeaways
- • GSR launches GSR Crypto Core3 ETF (NASDAQ: BESO), the first actively managed, multi-asset U.S. crypto ETF providing exposure to Bitcoin, Ethereum, and Solana with integrated staking reward capabilities.
- • 1.00% management fee structure positions the fund competitively within the emerging digital asset ETF landscape, with Framework Digital Advisors serving as investment adviser.
- • Active management and weekly rebalancing based on research-driven signals differentiate Core3 from passive crypto ETF offerings, enabling the fund to pursue additional returns beyond spot price exposure.
- • Strategic product expansion extends GSR's decade-long expertise in crypto market-making into regulated asset management, targeting institutional and retail investors seeking diversified digital asset exposure with yield generation.
- • Three-asset allocation strategy targets Bitcoin (macro asset), Ethereum and Solana (dominant Layer 1 blockchains supporting stablecoins and tokenization), reflecting core infrastructure and application themes across crypto markets.
Summary
GSR, a prominent cryptocurrency capital markets firm, launched its first digital asset exchange-traded fund on April 23, 2026. The GSR Crypto Core3 ETF (ticker: BESO) trades on Nasdaq and represents the first actively managed, multi-asset crypto ETF available to U.S. investors. The fund provides exposure to Bitcoin, Ethereum, and Solana while offering staking rewards and active portfolio management—a feature set that distinguishes it from passive crypto ETF products.
The Core3 ETF charges a 1.00% management fee and is managed by Framework Digital Advisors as the fund's investment adviser. The product allocates actively across its three constituent assets and rebalances weekly using research-driven signals designed to generate returns beyond passive spot price tracking. Where applicable, the fund accumulates staking rewards for investors, addressing a key consideration for crypto asset holders seeking yield while maintaining exposure.
The three-asset composition reflects GSR's thesis on crypto market structure. Bitcoin is positioned as the largest cryptocurrency and dominant macro asset, while Ethereum and Solana represent the two leading Layer 1 blockchains supporting a broad ecosystem of applications, including stablecoins and tokenization platforms. This allocation strategy provides investors with diversified exposure across crypto's primary use cases and infrastructure themes.
GSR's entry into the actively managed crypto ETF space represents a natural extension of its established market-making operations. CEO Xin Song stated that "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." Andy Baehr, Managing Director of Asset Management at GSR, framed Core3 as addressing three fundamental investor questions: asset selection, yield generation through staking, and dynamic positioning as markets evolve. The launch expands GSR's asset management business to meet growing institutional and retail demand for regulated, liquid access to digital assets.
The Core3 ETF charges a 1.00% management fee and is managed by Framework Digital Advisors as the fund's investment adviser. The product allocates actively across its three constituent assets and rebalances weekly using research-driven signals designed to generate returns beyond passive spot price tracking. Where applicable, the fund accumulates staking rewards for investors, addressing a key consideration for crypto asset holders seeking yield while maintaining exposure.
The three-asset composition reflects GSR's thesis on crypto market structure. Bitcoin is positioned as the largest cryptocurrency and dominant macro asset, while Ethereum and Solana represent the two leading Layer 1 blockchains supporting a broad ecosystem of applications, including stablecoins and tokenization platforms. This allocation strategy provides investors with diversified exposure across crypto's primary use cases and infrastructure themes.
GSR's entry into the actively managed crypto ETF space represents a natural extension of its established market-making operations. CEO Xin Song stated that "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." Andy Baehr, Managing Director of Asset Management at GSR, framed Core3 as addressing three fundamental investor questions: asset selection, yield generation through staking, and dynamic positioning as markets evolve. The launch expands GSR's asset management business to meet growing institutional and retail demand for regulated, liquid access to digital assets.
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