Written byBrayden Lindrea,Staff Writer

Reviewed byFelix Ng,Staff Editor

Market maker GSR launches first ETF tracking Bitcoin, Ether and Solana

Latest NewsPublishedApr 23, 2026

The GSR Crypto Core3 ETF is GSR’s first crypto exchange-traded product, giving investors access to the top three largest cryptocurrencies by market capitalization.

Institutional crypto trading platform GSR introduced its first crypto exchange-traded fund on Wednesday, recording nearly $5 million in trading volume on its first trading day.

The GSR Crypto Core3 ETF (BESO) tracks the spot price of Bitcoin (BTC), Ether (ETH) and Solana (SOL) and offers staking rewards, GSR stated in a statement on Wednesday.

In a separate post on X, GSR stated it will be adopting a “dynamic allocation strategy” to optimize returns for the fund, which carries a 1% management fee.

Source: GSR

BESO saw 185,574 shares traded worth about $4.8 million on its opening day, Nasdaq data shows. The fund closed at $26.04 but rose to $33 in after-hours trading.

GSR’s market entry coincides with a wave of Wall Street firms that have recently introduced or signaled their intention to launch a crypto ETF.

Among them is investment bank Morgan Stanley, which introduced a spot Bitcoin ETF on April 8 that has already attracted $163.8 million in net inflows.

On April 14, Goldman Sachs filed for a Bitcoin Premium Income ETF, enabling investors to earn passive income while still benefiting from potential price appreciation in Bitcoin.

GSR was founded by former Goldman Sachs traders Cristian Gil and Richard Rosenblum in 2013, making it one of the most established crypto market-making platforms in the industry.

Related: Charles Schwab to roll out spot Bitcoin, Ether trading for retail clients

GSR CEO Xin Song stated the company expanded into the crypto ETF market to make its services available to a broader range of investors, adding:

“Our ETF strategy reflects our deep understanding of how this asset class is evolving.”

Bitcoin takes back seat in GSR fund model portfolio

GSR stated allocations between Bitcoin, Ether and Solana for BESO will be rebalanced weekly based on “research-driven signals designed to pursue additional returns.“

GSR published a model portfolio analysis on Wednesday showing an optimized allocation between the cryptocurrencies, with Ether and Solana dominating at 51.4% and 41.67% respectively, while Bitcoin holds a smaller position at 6.93%.

Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M

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• Cryptocurrency Investment
• Liquidity
• ETF