GSR, a long-standing provider of liquidity and bespoke trading services for digital assets, has listed its first exchange-traded fund (ETF) on Nasdaq. The GSR Crypto Core3 ETF, trading under the ticker BESO, directly invests in three major cryptocurrencies: bitcoin (BTC), ether (ETH), and solana (SOL). The fund’s annual management fee is set at 1%. Notably, the ETF features active portfolio management as well as the ability to generate staking income on eligible assets.
Growing interest in next-generation crypto ETFs
Crypto ETFs have rapidly gained traction among both individual and institutional investors seeking regulated, intermediary access to digital assets. While most ETFs launched in the US to date have focused on a single asset—mainly bitcoin—multi-asset “basket” funds are now claiming greater space in the market. The GSR Crypto Core3 ETF stands apart by bringing together three distinct coins in one product while updating the fund’s asset allocation on a weekly basis.
GSR representatives emphasize that the fund is designed around two core themes: bitcoin’s unique status as a macro-level store of value, and the technological contributions of Ethereum and Solana, which serve as key infrastructure layers for applications such as stablecoins and tokenized assets. As a result, the ETF is positioned to capture both long-term value trends and growth in blockchain-based innovation.
Staking brings extra income opportunities
A standout feature of the new ETF is its support for staking, a native element of cryptocurrency technology rarely seen in traditional ETFs. Through staking, investors can lock up digital assets for passive income rewards—an advantage absent from most legacy finance products. Large crypto funds such as BlackRock’s iShares Bitcoin Trust have occasionally offered staking capabilities, highlighting the innovative edge of this feature within such vehicles.
Framework Digital Advisors has been appointed as the fund’s investment advisor. GSR aims to leverage active management for increased flexibility as market conditions evolve. With its extensive background as a market maker, GSR seeks to apply its expertise to the ETF format and reach a wider pool of investors. GSR CEO Xin Song commented on the launch:
“For over a decade, GSR has worked to make crypto markets more efficient; now, with Core3, we are bringing that expertise to a product that is accessible to a much broader investment community.”
Who is GSR and what is its industry role?
Founded in 2013, GSR operates as a prominent market maker and liquidity provider in the crypto asset landscape. The company is especially known for its over-the-counter (OTC) trading desk, serving larger investors and institutional clients. By launching this ETF, GSR is expanding beyond market making and trading, stepping more firmly into investment management.
With the arrival of the new fund, cryptocurrencies are expected to become more accessible on regulated markets. The ETF’s portfolio diversity and the inclusion of staking represent a fresh approach in digital asset investing.
The innovation behind GSR’s Crypto Core3 ETF could stimulate further interest in regulated crypto products and set new standards for ETF structures in the nascent sector.
The fund’s combination of active management, regular portfolio rebalancing, and exposure to the blockchain economy’s leading assets positions it as a potential benchmark for future multi-asset digital funds.
Industry observers will be watching closely to assess investor uptake and the ETF’s role in expanding adoption of digital assets among mainstream audiences.
By integrating staking into a regulated ETF, GSR aims to blur the line between decentralized finance and traditional investing, offering value not typically found in legacy products.
As interest in regulated exposure to cryptocurrencies grows, GSR’s ETF could serve as a model for subsequent entrants seeking to combine compliance with crypto-native earning opportunities.
