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Market maker GSR launches first ETF tracking Bitcoin, Ether and Solana
TL;DR
GSR launched its first crypto ETF, the GSR Crypto Core3 ETF (BESO), which tracks Bitcoin, Ether, and Solana, achieving nearly $5 million in trading volume on its first day.
Key points
- GSR launched its first crypto ETF
- ETF tracks Bitcoin, Ether, and Solana
- Achieved nearly $5 million in trading volume
- Offers staking rewards
- Charges a 1% management fee
Mentioned in this story
GSR
Institutional crypto trading platform GSR launched 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 said in a statement on Wednesday.
In a separate post on X, GSR said 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 launched or signaled their intention to launch a crypto ETF.
Among them is investment bank Morgan Stanley, which launched 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.
Q&A
What is the GSR Crypto Core3 ETF (BESO) and what does it track?
The GSR Crypto Core3 ETF (BESO) is an exchange-traded fund that tracks the spot prices of Bitcoin, Ether, and Solana.
How much trading volume did the GSR Crypto Core3 ETF record on its first day?
The GSR Crypto Core3 ETF recorded nearly $5 million in trading volume on its first trading day.
What management fee does the GSR Crypto Core3 ETF charge?
The GSR Crypto Core3 ETF carries a management fee of 1%.
