GSR’s Crypto ETFs: Tracking Bitcoin Treasuries… Or Is It? 🚀

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Crypto trading and market-making firm GSR is planning to launch its first exchange-traded fund (ETF) focused on companies that hold digital assets. Because nothing says “investing” like buying shares in companies that own Bitcoin… in their “treasuries”! 🤯

According to a regulatory filing, the proposed GSR Digital Asset Treasury Companies ETF “will not invest directly in digital assets such as Bitcoin, Ether, or other cryptocurrencies.” Instead, it would invest in public companies that own cryptocurrencies, like a financial version of “I’ll take the treasure, not the gold!” 💰

GSR expects the ETF to hold around 10-15 positions, covering 5-10 companies, including firms investing in altcoins. Examples of companies that could be included are major players like Strategy Inc. (MSTR), CEA Industries (BNC), and Bitmine Immersion Technologies (BMNR), along with other firms. Because nothing says “innovation” like a company named “Bitmine Immersion Technologies”! 🧠

As per the filing, GSR plans to allocate at least 80% of its assets to publicly traded companies. It also read, “any company that generally maintains a significant portion of its assets in one or more digital assets.” Because who needs direct exposure when you can have a layer of “professional” investors? 🤡

Other planned crypto ETFs

In addition to this treasury-focused ETF, GSR is planning four other crypto ETFs: Core3 ETF, Ethereum Staking Opportunity ETF, Crypto StakingMax ETF, and Ethereum YieldEdge ETF. Because “stake” is the new “shake”! 🕷️

Ethereum Staking and YieldEdge ETFs

GSR intends to organize the Ethereum Staking and YieldEdge ETFs via offshore wholly-owned subsidiaries so they can purchase and stake Ethereum while being governed by U.S. laws under the Investment Company Act of 1940. Because nothing says “compliance” like hiding in a tax haven! 🏝️

The Ethereum Staking fund will predominantly invest in Ether staking ETFs offshore, and the YieldEdge ETF will utilize an actively managed derivatives strategy. The StakingMax ETF will invest in cryptocurrencies and securities relating to proof-of-stake networks, utilizing an offshore subsidiary. Because if you can’t trust your own country, trust a foreign one! 🌍

Ethereum Staking Opportunity and Crypto Core3 ETFs

The GSR Ethereum Staking Opportunity ETF aims to track the movement of Ethereum (ETH) plus staking rewards. Investors in this fund would be charged a yearly management fee of around 1%, and other charges would be minimal. Because who needs real returns when you can pay 1% to watch Ethereum? 📉

The Crypto Core3 ETF is intended to follow Bitcoin, Ether, and Solana, and could directly hold the tokens. It is listed under the Securities Act of 1933 and intends to invest about one-third of its assets in each token to provide exposure to the three leading digital assets. Because three is a crowd, but in finance, it’s a “diversified portfolio”! 🎲

The launch comes as a result of a rising trend among asset managers providing ETFs tracking cryptocurrencies and staking strategies. Because who needs real money when you can track digital assets… in a digital ETF? 📈

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2025-09-25 14:24