• GSR launched the Crypto Core3 ETF, its first actively managed multi-asset crypto ETF under the ticker BESO.
• The fund provides exposure to Bitcoin, Ethereum and Solana, with weekly rebalancing and potential staking rewards.
• The launch of BESO reflects growing demand for diversified crypto ETFs, with similar launches from Grayscale and Bitwise.

GSR launched its Nasdaq-listed GSR Crypto Core3 ETF on Wednesday with the ticker BESO, marking its first crypto exchange-traded fund (ETF).

The fund offers diversified exposure to Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), combining active portfolio management with the potential to earn staking rewards on eligible assets.

The firm noted that the ETF rebalances weekly using research-driven signals aimed at generating higher returns. The fund carries a 1% management fee, while staking yield may accrue on assets such as ETH and SOL.

"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," said Xin Song, CEO of GSR, in a Wednesday statement.

BESO targets diversified crypto exposure through active strategy

Andy Baehr, Managing Director at GSR, said the fund is designed to help investors address three core considerations, including selecting which digital assets to hold, generating yield while maintaining exposure and adjusting positioning as market conditions evolve.

He added that the product offers exposure to the "asset class's primary drivers," including Bitcoin's macro role and continued growth in blockchain adoption.

Bloomberg ETF analyst James Seyffart also noted in a post on X that the fund could seek to outperform an "equal weighted 'index' of BTC, ETH & SOL." 

He added that basket-style ETFs, whether active or passive, could become one of the fastest-growing segments in the crypto ETF market over the coming years.

The launch comes as demand grows for diversified digital asset investment products beyond single-asset spot crypto ETFs. Multiple issuers have filed in recent months for basket or multi-asset products, including Grayscale, Bitwise and Hashdex.

GSR stated that the launch of Core3 is the next step in expanding its role as a full-service capital markets partner, broadening its asset management platform to offer investment products and services for both crypto-native and traditional investors.

Bitcoin trades above $78,000, with Ethereum and Solana hovering around $2,350 and $87, respectively, at the time of writing.