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Cryptocurrency market maker GSR has launched an exchange-traded fund, the GSR Crypto Core3 ETF, which began trading on the Nasdaq stock exchange under the ticker symbol BESO.
The fund provides consolidated exposure to three major digital currencies: Bitcoin, Ethereum and Solana. Unlike passive index-tracking ETFs, BESO is actively managed, with portfolio managers determining the weighting of each cryptocurrency holding.
GSR says the ETF undergoes weekly portfolio rebalancing. The company attributes allocation changes to “research-driven signals,” while not disclosing the specific criteria or methodologies used.
BESO charges investors a 1% yearly management fee, positioning it in line with actively managed products rather than the lower-cost passive ETFs that dominate the current ETF market.
A key feature of the ETF is its ability to generate staking rewards. By participating in proof-of-stake networks, the fund can earn additional returns on qualified holdings. GSR notes that this capability has appeared in select cryptocurrency ETFs, including BlackRock’s iShares Bitcoin Trust.
Framework Digital Advisors has been designated as the fund’s investment adviser, working with GSR on product management.
GSR said the three cryptocurrencies reflect distinct investment narratives within digital asset markets. Bitcoin is framed as a macro-level store of value, with comparisons to precious metals such as gold. Ethereum and Solana are described as foundational blockchain infrastructures that support practical applications, including stablecoins and asset tokenization.
GSR also pointed to the broader U.S. ETF landscape, where most registered cryptocurrency ETFs have focused on single-asset exposure—particularly Bitcoin. Multi-asset basket funds have gained traction in recent months, and Core3 is presented as part of that shift.
Andy Baehr, Managing Director of Asset Management at GSR, said the product targets three investor challenges: asset selection, yield generation during holding periods, and strategic positioning amid market volatility.
GSR’s ETF launch is part of a wider expansion beyond its traditional trading operations. In March 2026, the company completed acquisitions of Autonomous and Architech, strengthening its token advisory services and blockchain project development capabilities.
GSR has also made a strategic investment in Libeara, a tokenization infrastructure platform supported by SC Ventures, reflecting a growing focus on blockchain-based financial technology solutions.
The Crypto Core3 ETF is available for trading on Nasdaq under ticker symbol BESO.
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