Joerg Hiller
Apr 23, 2026 05:22
GSR’s first actively managed crypto ETF, BESO, debuts with $4.8M trading volume, offering exposure to BTC, ETH, and SOL with staking rewards.
Crypto market maker GSR has officially entered the asset management space with the launch of its first actively managed exchange-traded fund (ETF), the GSR Crypto Core3 ETF (ticker: BESO). Debuting on Nasdaq on April 22, 2026, the fund recorded $4.8 million in trading volume on its first day, closing at $26.04 before climbing to $33 in after-hours trading.
The BESO ETF provides investors with exposure to Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) while incorporating staking rewards—an uncommon feature in crypto ETFs. GSR stated it would employ a “dynamic allocation strategy” to optimize returns, supported by weekly rebalancing based on research-driven signals. The fund carries a 1% management fee.
Interestingly, GSR’s portfolio allocation leans heavily on Ethereum and Solana, which account for 51.4% and 41.67% of the holdings, respectively. Bitcoin, often dominant in such funds, holds a notably smaller position at just 6.93%. This strategy reflects GSR’s research emphasis on maximizing potential returns through diversification and active management.
Competition Heats Up Among Crypto ETFs
The launch of BESO comes amid a flurry of activity in the crypto ETF space. Wall Street giants are staking their claims, with Morgan Stanley rolling out a spot Bitcoin ETF earlier this month, attracting $163.8 million in net inflows since its April 8 debut. Goldman Sachs has also filed for a Bitcoin Premium Income ETF, focused on generating passive income through options-based strategies.
GSR, founded in 2013 by former Goldman Sachs traders, has historically focused on liquidity provision, risk management, and bespoke trading solutions for institutions. The BESO ETF marks its first foray into consumer-facing products, signaling a strategic pivot to capitalize on the growing institutionalization of the crypto sector.
Why It Matters
GSR’s entry into the ETF market highlights the growing appetite for diversified, professionally managed crypto products. By combining staking rewards with active portfolio management, BESO offers a unique proposition for investors looking for yield enhancements in their crypto exposure. The inclusion of Solana alongside Bitcoin and Ethereum also reflects a growing trend of broadening beyond Bitcoin-dominated portfolios.
For traders, the fund’s dynamic allocation strategy is worth watching. With weekly rebalancing based on GSR’s proprietary signals, BESO could see significant portfolio shifts depending on market conditions, potentially creating ripple effects across BTC, ETH, and SOL markets.
As the ETF market expands, GSR’s move solidifies its position as a key player bridging traditional finance and the crypto ecosystem. Whether BESO can sustain its strong debut performance amidst stiff competition remains to be seen, but its innovative structure and GSR’s market pedigree give it a fighting chance.
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