GSR’s new BESO ETF on Nasdaq actively manages a Bitcoin‑Ethereum‑Solana basket with weekly rebalancing, a 1% fee, and built‑in staking rewards where allowed.
Summary
- Crypto market maker GSR has launched the GSR Crypto Core3 ETF (ticker: BESO) on Nasdaq, targeting Bitcoin, Ethereum, and Solana.
- BESO is actively managed, rebalanced weekly, charges a 1% management fee, and incorporates staking rewards where possible.
- The Block reports it is the first actively managed multi‑asset crypto ETF in the US to offer staking functionality, marking a new front in ETF competition.
GSR is moving from pure market‑making into the center of the ETF arms race, rolling out its first multi‑asset crypto fund on Nasdaq under the ticker BESO.
According to The Block, the GSR Crypto Core3 ETF will invest in a three‑coin basket of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), while “account[ing] for staking rewards where applicable” to enhance the fund’s total return profile.
The product is structured as an actively managed ETF with a 1% management fee and a weekly rebalancing schedule, giving the portfolio team room to adjust weights in response to volatility, flows, or changing narratives across the three assets. Binance’s summary of the launch notes that BESO is “the first actively managed multi‑asset crypto ETF in the United States to offer staking capabilities,” putting it at the intersection of spot crypto exposure and on‑chain yield capture.
This is not a random pivot. Fortune previously reported that GSR created a dedicated US asset‑management division and filed for a suite of ETFs, including a “Crypto Core3” strategy designed to give “balanced exposure” to BTC, ETH, and SOL, alongside more niche products like an “Ethereum Staking Opportunity ETF.”
Grayscale has already activated staking in some of its Ethereum and Solana trusts, but those are single‑asset products and, in some cases, grantor‑trust ETPs rather than actively managed, multi‑asset ETFs.
BESO pushes the envelope by combining three majors into one wrapper and explicitly integrating staking, which lets the fund capture protocol rewards in ETH and SOL (and potentially wrapped or derivative formats) while providing plain‑vanilla stock‑ticker access for US brokerage accounts.
Strategically, GSR is betting that institutional and affluent retail investors now want more than “digital gold” beta.
By packaging BTC, ETH, and SOL together and layering on staking, the firm is offering a one‑ticket way to hold the current core of the crypto stack — base money, smart‑contract settlement, and high‑throughput L1 — with an embedded yield component and professional rebalancing across cycles.
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