TLDR
- GSR debuts the GSR Crypto Core3 ETF (BESO) on Nasdaq, marking its first exchange-traded fund
- The product provides combined exposure to Bitcoin, Ethereum, and Solana through active management
- Weekly rebalancing based on proprietary research signals differentiates it from passive funds
- The fund includes staking capabilities and carries a 1% annual fee
- Framework Digital Advisors partners with GSR as the investment adviser
GSR, a digital asset market maker and trading firm operating for more than ten years, has introduced its inaugural exchange-traded fund to the market. Named the GSR Crypto Core3 ETF, the product now trades on the Nasdaq exchange using the ticker symbol BESO.
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 investment vehicle consolidates three major digital currencies into a single offering: Bitcoin, Ethereum, and Solana. Unlike passive index-tracking funds, BESO employs an active management approach where portfolio managers make strategic allocation decisions across the three assets.
According to GSR, the fund undergoes weekly portfolio rebalancing. These allocation adjustments stem from what the company describes as proprietary “research-driven signals,” although specific details about the decision-making framework remain undisclosed.
Investors face a 1% yearly management fee for this product. This pricing positions BESO among actively managed strategies, contrasting with the lower-cost passive funds that have captured significant market share in the broader ETF landscape.
A notable component is the fund’s ability to generate staking rewards. By participating in certain blockchain validation mechanisms, the fund can produce additional returns from qualifying holdings. This capability has emerged in select crypto ETFs, including BlackRock’s iShares Bitcoin Trust.
Framework Digital Advisors has been designated as the investment adviser, collaborating with GSR on fund operations and strategy.
Commenting on the launch, GSR CEO Xin Song highlighted 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 said.
The Rationale Behind These Three Assets
GSR selected these particular cryptocurrencies to capture two distinct investment narratives within digital asset markets. Bitcoin functions as a macro-level store of value asset, drawing comparisons to precious metals like gold in investment strategies. Ethereum and Solana represent smart contract platforms enabling practical use cases including stablecoin infrastructure and asset tokenization.
The majority of crypto ETFs available to U.S. investors have concentrated on single-asset exposure, particularly Bitcoin. However, multi-asset basket funds have started emerging recently, and Core3 joins this developing category.
Andy Baehr, GSR’s Managing Director of Asset Management, explained that the product addresses three primary investor challenges: asset selection, yield generation during holding periods, and maintaining appropriate positioning amid changing market conditions.
GSR’s Strategic Growth Initiatives
Launching this ETF represents one element of GSR’s broader expansion strategy beyond its core trading operations. During March 2026, the company acquired two entities—Autonomous and Architech—to strengthen its advisory capabilities in token economics and blockchain development.
Additionally, GSR has made a strategic investment in Libeara, a tokenization infrastructure platform supported by SC Ventures. This move signals the firm’s increasing focus on blockchain-based financial technology infrastructure.
The Crypto Core3 ETF is currently available for trading on Nasdaq under the ticker symbol BESO.
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