GSR Launches Multi-Asset Crypto ETF With Exposure to Solana

Crypto trading and investment firm GSR has launched its first exchange-traded fund, the GSR Crypto Core3 ETF, which trades on Nasdaq under the ticker $BESO. 

The fund marks the firm’s entry into public market investment products and expands its asset management offering. $BESO provides actively managed exposure to three of the most prominent digital assets, Bitcoin, Ethereum, and Solana, while also incorporating staking rewards where applicable.

GSR will charge a 1% management fee for the product. Framework Digital Advisors serves as the fund’s investment adviser. The ETF reflects GSR’s broader effort to connect traditional financial infrastructure with the evolving crypto market.

Structure and Investment Approach

The Core3 ETF allocates approximately 80% of its net assets to Bitcoin, Ethereum, and Solana. The fund actively manages its exposure across these assets and rebalances weekly.

GSR uses research-driven signals to guide allocation decisions, aiming to improve returns relative to static benchmarks. The fund also integrates staking rewards from its Ethereum and Solana holdings, where possible.

Market Positioning and Asset Selection

The ETF centers on what GSR describes as the “two dominant themes” in crypto markets. Bitcoin represents the macro asset layer and has gained recognition as a widely traded store of value. Ethereum and Solana represent programmable blockchain platforms that support applications such as stablecoins and tokenized assets.

GSR’s inclusion of Solana reflects its growing role alongside Bitcoin and Ethereum in what some market participants describe as crypto’s "Big Three." A 2024 GSR research report highlighted Solana’s increasing relevance across both decentralization and demand metrics. The report found that Solana ranked among the top blockchains in decentralization, alongside Ethereum, and scored strongly on demand indicators such as market activity and user engagement.

The report also noted that Solana’s utility in staking and decentralized applications could amplify the impact of ETF-driven inflows compared to Bitcoin.

This perspective aligns with Core3’s inclusion of staking rewards as part of its strategy.

Broader ETF Trends

Recent data suggests growing investor interest in Solana-focused investment products. Spot Solana ETFs recorded $35.17 million in net inflows last week, with Bitwise’s $BSOL accounting for $29.63 million of that total. These flows indicate sustained demand for diversified crypto exposure beyond Bitcoin and Ethereum.

Industry experts expect multi-asset crypto ETFs to expand in the coming years. Bloomberg ETF analyst James Seyffart noted that basket-style ETFs, whether active or passive, could become one of the fastest-growing segments in the crypto ETF market.

He added that products like Core3 may attempt to outperform simple equal-weighted allocations across major digital assets.

$BESO’s First Day Performance

According to TradingView data, the Core3 ETF has recorded a 24-hour trading volume of $212,403 on its first day of trading. 8,310 shares have been exchanged so far with the fund boasting a current price of $25.56 at the time of writing.

These early figures provide an initial view into investor participation as the fund begins trading on Nasdaq

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