Key Takeaways
- • GSR, a London-based crypto market maker with over a decade of trading experience, launched the GSR Crypto Core3 ETF (ticker: BESO) on Nasdaq, marking its entry into actively managed crypto asset management.
- • The fund provides exposure to Bitcoin, Ethereum, and Solana with integrated staking yields from ETH and SOL holdings, charging a 1% management fee and employing weekly portfolio rebalancing based on proprietary research signals.
- • GSR's actively managed basket approach targets both retail and institutional investors seeking simplified crypto exposure with dynamic allocation, positioning it to compete in what Bloomberg analysts expect to be a "fastest-growing category in crypto ETFs over the next couple years."
- • The product leverages GSR's institutional-grade infrastructure in trading, liquidity management, and risk expertise to deliver what the firm characterizes as solutions to three core investor questions: asset selection, yield generation, and market positioning as crypto adoption evolves.
Summary
GSR, the London-based cryptocurrency market maker, officially launched the GSR Crypto Core3 ETF on Nasdaq under the ticker BESO on April 22, 2026, signaling the firm's strategic expansion from market-making into active asset management. The fund is structured as an actively managed portfolio providing exposure to Bitcoin, Ethereum, and Solana—the three largest non-stablecoin digital assets by market capitalization—while incorporating staking yields from Ethereum and Solana holdings.
The fund operates with a 1% management fee and employs a dynamic allocation strategy, with GSR conducting weekly portfolio rebalancing using what the firm describes as "research-driven signals" informed by its proprietary market intelligence. According to CEO Xin Song, the product represents an extension of GSR's core competency in building efficient crypto markets into a vehicle accessible to institutional and retail investors alike. The firm positions Core3 as addressing three fundamental investor needs: determining which assets to hold, generating yield while maintaining exposure, and adjusting portfolio positioning as the crypto market matures.
Managing Director of Asset Management Andy Baehr emphasized that the fund provides concentrated exposure to the primary drivers of crypto adoption: Bitcoin's macroeconomic influence and the expanding blockchain technology ecosystem represented by Ethereum and Solana. The active management framework distinguishes BESO from passive crypto basket offerings, as GSR commits to outperforming an equal-weighted index of the three underlying assets through ongoing research and tactical rebalancing.
Bloomberg ETF analyst James Seyffart characterized GSR's launch as likely the first of multiple entrants into the actively managed crypto basket category, predicting that such products will constitute "one of the fastest-growing categories in crypto ETFs over the next couple years." GSR's entry reflects broader institutional acceptance of crypto as a portfolio diversifier, with the firm's established relationships in trading infrastructure and market microstructure positioning it competitively within this emerging segment.
The fund operates with a 1% management fee and employs a dynamic allocation strategy, with GSR conducting weekly portfolio rebalancing using what the firm describes as "research-driven signals" informed by its proprietary market intelligence. According to CEO Xin Song, the product represents an extension of GSR's core competency in building efficient crypto markets into a vehicle accessible to institutional and retail investors alike. The firm positions Core3 as addressing three fundamental investor needs: determining which assets to hold, generating yield while maintaining exposure, and adjusting portfolio positioning as the crypto market matures.
Managing Director of Asset Management Andy Baehr emphasized that the fund provides concentrated exposure to the primary drivers of crypto adoption: Bitcoin's macroeconomic influence and the expanding blockchain technology ecosystem represented by Ethereum and Solana. The active management framework distinguishes BESO from passive crypto basket offerings, as GSR commits to outperforming an equal-weighted index of the three underlying assets through ongoing research and tactical rebalancing.
Bloomberg ETF analyst James Seyffart characterized GSR's launch as likely the first of multiple entrants into the actively managed crypto basket category, predicting that such products will constitute "one of the fastest-growing categories in crypto ETFs over the next couple years." GSR's entry reflects broader institutional acceptance of crypto as a portfolio diversifier, with the firm's established relationships in trading infrastructure and market microstructure positioning it competitively within this emerging segment.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.