BESO holds Bitcoin, Ethereum, and Solana and is structured to accumulate staking rewards on eligible assets.
Crypto News
Crypto market maker GSR listed its first exchange-traded fund on Nasdaq on Wednesday. The fund is called the GSR Crypto Core3 ETF and trades under the ticker BESO.
BESO holds Bitcoin, Ethereum, and Solana and is structured to accumulate staking rewards on eligible assets. GSR describes it as the first actively managed multi-asset crypto ETF in the U.S. to include staking access. The fund carries a 1% annual management fee.
Framework Digital Advisors is serving as the fund's investment adviser. GSR will rebalance portfolio allocations on a weekly basis using what it calls research-driven signals designed to pursue additional returns above a simple equal-weighted benchmark.
Andy Baehr, GSR's Managing Director of Asset Management, said the fund is built around the questions every crypto investor has to answer. "What to own, how to earn yield while you hold, and how to be positioned as markets evolve," Baehr said. The fund addresses Bitcoin as a macro asset and Ethereum and Solana as platforms supporting stablecoins and tokenized assets.
GSR CEO Xin Song said the firm has spent more than a decade building trading infrastructure, liquidity systems, and risk management capabilities in crypto markets. He said Core3 is an extension of that work into a format that retail and institutional investors can access through a standard brokerage account.
The launch comes as the U.S. crypto ETF market continues to expand beyond single-asset products. Spot Bitcoin and Ethereum ETFs launched in 2024 drew some of the fastest inflows on record for new funds. Several firms have since filed or launched basket products, though the SEC has historically been cautious about multi-asset strategies and staking features.
Bloomberg ETF analyst James Seyffart said basket ETFs are likely to become one of the fastest-growing categories in crypto investment products over the next two years. He noted BESO will attempt to outperform a simple equal-weighted index of all three assets.
The ETF is part of a broader strategic shift by GSR. In March, the firm acquired Autonomous and Architech to expand its token advisory business. Earlier this month, it invested in Libeara, a tokenization platform backed by SC Ventures.
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