TLDR
- GSR debuts BESO, the GSR Crypto Core3 ETF, now trading on Nasdaq
- The product provides combined exposure to Bitcoin, Ethereum, and Solana through active management
- Weekly portfolio rebalancing based on proprietary research signals
- Features 1% annual management fee with staking yield potential
- Framework Digital Advisors acts as the investment adviser for the fund
Veteran crypto market maker GSR has entered the exchange-traded fund space with its inaugural product. The GSR Crypto Core3 ETF, operating under the ticker symbol BESO, commenced trading on the Nasdaq exchange, marking a significant expansion for the firm that has spent more than ten years in digital asset markets.
GSR Launches First ETF, Ticker BESO
GSR announced the launch of its first ETF, ticker BESO, an actively managed product investing in Bitcoin, Ethereum, and Solana with a 1% fee; James Seyffart expects basket ETFs (active or passive) to be among the fastest-growing segments in… pic.twitter.com/o7lTQYKFDx
— Wu Blockchain (@WuBlockchain) April 22, 2026
This new financial instrument provides bundled access to three major digital currencies within a single investment vehicle: Bitcoin, Ethereum, and Solana. Unlike passive index-tracking products, BESO employs an active management approach where portfolio managers determine allocation weights rather than following predetermined benchmarks.
According to GSR, the fund undergoes weekly portfolio rebalancing. These adjustments stem from what the company describes as proprietary research indicators, although specific criteria underlying these signals remain undisclosed.
BESO charges investors a 1% yearly management expense. This fee structure aligns with actively managed investment products rather than the minimal-cost passive alternatives that have captured significant market share in the broader ETF landscape.
A notable characteristic of this offering is its staking capability. The fund can generate additional returns through validation rewards from compatible blockchain protocols while maintaining positions in qualifying digital assets. This functionality has emerged in select crypto ETFs, including BlackRock’s iShares Bitcoin Trust.
Framework Digital Advisors has been designated as the fund’s investment adviser, collaborating with GSR on product oversight.
Commenting on the launch, GSR CEO Xin Song emphasized the firm’s market expertise. “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,” he stated.
The Rationale Behind the Three-Asset Selection
GSR positioned the three chosen cryptocurrencies as representing distinct investment narratives within digital asset markets. Bitcoin serves as a macro-oriented store of value, drawing comparisons to precious metals in terms of portfolio function. Ethereum and Solana, conversely, embody smart contract infrastructure enabling practical use cases including stablecoin transactions and asset tokenization.
The majority of cryptocurrency ETFs available to U.S. investors have concentrated on single-asset exposure, particularly Bitcoin-focused products. Multi-asset basket funds have emerged more recently, and Core3 joins this developing category.
Andy Baehr, Managing Director of Asset Management at GSR, explained the product addresses three fundamental investor challenges: asset selection, yield generation during holding periods, and strategic positioning amid evolving market conditions.
GSR’s Strategic Evolution
The ETF introduction represents one component of GSR’s broader business diversification beyond its core trading operations. In March 2026, the company completed acquisitions of Autonomous and Architech, bolstering its capabilities in token advisory services and blockchain project development.
GSR has additionally taken a stake in Libeara, a tokenization infrastructure platform supported by SC Ventures. This investment signals the firm’s interest in emerging blockchain-based financial systems.
The Crypto Core3 ETF is currently available for trading on Nasdaq using the ticker symbol BESO.
