Crypto trading veteran GSR has stepped into fund management with the launch of its first exchange-traded fund, offering investors a streamlined, regulated way to gain exposure to three of crypto’s biggest tokens.
The GSR Crypto Core3 ETF began trading on Nasdaq under the ticker BESO and holds bitcoin (BTC), ether (ETH) and solana (SOL). The product charges a 1% management fee and combines active portfolio management with the ability to earn staking rewards on assets that support it — a yield component still uncommon in traditional fund wrappers but increasingly seen in newer crypto products.
GSR says Core3 is designed around two macro themes: bitcoin’s role as a macro asset and the growth of programmable blockchain platforms like Ethereum and Solana that power applications such as stablecoins and tokenized assets. The fund’s allocations across the three tokens are adjusted weekly, driven by “research‑driven signals” intended to pursue additional returns while managing risk, the firm said.
Framework Digital Advisors will serve as the ETF’s investment adviser. For GSR, the launch represents a move beyond its core trading and market‑making business into asset management — packaging over a decade of liquidity provisioning and OTC experience into an investable product for a broader investor base.
A notable selling point of Core3 is its staking capability: when eligible assets are held, the fund can capture staking rewards from the underlying networks, allowing it to potentially generate yield in addition to price exposure. That feature is part of a broader trend as crypto ETFs evolve to offer more than single‑asset spot exposure and seek ways to enhance returns for holders.
“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,” CEO Xin Song said.
The launch comes as demand for regulated crypto access through traditional brokerages continues to grow, with basket-style funds — which bundle multiple tokens and periodically rebalance — gaining traction alongside single-asset ETFs. Core3 positions GSR to compete in that expanding segment by combining active management, multi-token exposure and potential staking income in a single, Nasdaq-listed vehicle.
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