GSR has launched an actively managed, multi-asset crypto staking ETF on Nasdaq under the ticker BESO, marking one of the first exchange-traded products to combine active portfolio management with staking-derived yield across multiple digital assets.
The fund, called the Crypto Core3 ETF, trades on the Nasdaq exchange. GSR, a firm known for its digital asset trading and market-making operations, is the entity behind the product.
What GSR’s Nasdaq Launch Actually Introduces
The BESO ETF is distinct from most crypto exchange-traded products on three fronts. It is actively managed, meaning the fund’s portfolio managers adjust holdings rather than tracking a fixed index. It spans multiple crypto assets rather than concentrating on a single token. And it incorporates staking, generating yield from proof-of-stake networks as part of its return profile.
That combination sets it apart from the wave of single-asset spot Bitcoin and Ethereum ETFs that have dominated U.S. crypto product launches. Where those funds offer passive exposure to one token’s price, BESO bundles active allocation decisions with protocol-level income from staking.
The ETF’s SEC filing provides the regulatory foundation for the fund’s structure. The listing is live on Nasdaq, where investors can already trade shares under the BESO ticker.
Why an Active Multi-Asset Staking ETF Matters
Most crypto ETFs approved in the U.S. to date have been passive, single-asset vehicles. The sustained inflows into spot Bitcoin ETFs over recent months demonstrate strong investor appetite for regulated crypto exposure, but those products offer no diversification or yield component.
An actively managed fund can rebalance across assets based on market conditions, potentially reducing single-token concentration risk. The staking element adds a yield layer that passive spot ETFs cannot replicate, since staking rewards are generated directly by participating in network validation on proof-of-stake blockchains.
For investors who want packaged digital-asset exposure without managing wallets, validators, or multi-exchange accounts, the structure solves a practical problem. It consolidates asset selection, custody, and staking operations into a single tradeable product on a traditional exchange.
What Investors Should Watch After the Debut
The most immediate post-launch checkpoints are the fund’s expense ratio, its holdings transparency, and how frequently it discloses portfolio composition. Active ETFs vary widely in how much visibility they provide into real-time allocations.
Liquidity will also matter in early trading. New ETFs can experience wider bid-ask spreads until market makers establish consistent pricing. Investors should monitor trading volume and spread data on the Nasdaq listing page in the first weeks.
The staking execution is another area to watch. How the fund selects validators, handles slashing risk, and reports staking yield will shape whether the product delivers on its structural promise. Those operational details, rather than launch-day price action, will determine BESO’s longer-term positioning in the rapidly evolving regulated crypto product landscape.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
