Institutional crypto trading firm GSR has entered the exchange-traded fund market with its first digital asset ETF, which drew nearly $5 million in trading volume on its debut. The product, called the GSR Crypto Core3 ETF (BESO), began trading on Wednesday and is designed to track the spot prices of Bitcoin , Ether and Solana while also passing through staking-related rewards.
The fund charges a 1% management fee and uses a dynamic allocation approach intended to improve returns over time. GSR said the portfolio will be adjusted on a weekly basis using research-based signals. Initial market data showed 185,574 shares changing hands, representing about $4.8 million in first-day volume. The ETF closed the session at $26 and later moved to $33 in after-hours trading.
The launch comes as major financial institutions accelerate their push into crypto-linked investment products. Recent filings and launches from Wall Street firms have added momentum to the segment, with some products already attracting meaningful inflows. The broader trend suggests growing demand from investors seeking regulated exposure to digital assets through familiar fund structures.
GSR was founded in 2013 by former Goldman Sachs traders Cristian Gil and Richard Rosenblum and has become a prominent crypto market-making and liquidity provider. Chief executive Xin Song said the move into ETFs is intended to broaden access to the firm’s expertise and bring its investment approach to a wider investor base.
A model portfolio published by GSR on Wednesday showed that the fund’s optimized weighting is far from evenly split. Ether and Solana account for the majority of the allocation at about 51% and 42%, respectively, while Bitcoin represents only around 7%. The structure indicates that, within this strategy, Bitcoin plays a supporting role rather than serving as the main source of exposure.Cyberattacks across the crypto sector are increasingly being shaped by deepfakes, phishing campaigns, supply-chain intrusions and cross-chain vulnerabilities, according to CertiK senior blockchain investigator Natalie Newson. She said these threats are likely to drive some of the largest hacks of 2026 as attackers become more organized and more reliant on automation.
The industry has already lost more than $600 million this year to exploits, largely because of two North Korea-linked thefts in April. Those incidents included the $293 million Kelp DAO exploit, which stemmed from a single point of trust failure in LayerZero’s cross-chain messaging infrastructure, and the $280 million breach of Drift Protocol. Another attack tied to North Korean actors used artificial intelligence in a long-running social engineering campaign that allowed hackers to steal about $100,000 from Zerion’s hot wallets.
Newson said the rapid development of AI is likely to intensify these attacks in some respects. She warned that users should treat phishing as a constant risk and verify URLs, smart contracts and related interfaces before signing transactions. For retail investors, she said, storage outside centralized exchanges is becoming increasingly important. Cold wallets, she noted, can reduce exposure by keeping long-term holdings offline and limiting the risk of private key compromise.
At the same time, AI is also changing the defensive side of cybersecurity. Newson pointed to the rise of more convincing deepfakes, autonomous attack agents and agentic AI systems that can scan smart contracts for flaws, draft exploit code and carry out attacks at machine speed. Those same tools, however, can also be used to strengthen defenses and improve vulnerability detection.
CertiK said hackers stole $3.3 billion in 2025, with supply-chain breaches accounting for $1.45 billion of that total across just two incidents, including the $1.4 billion Bybit hack in February 2025. Regulators are now responding more aggressively. On April 9, the US Department of the Treasury expanded its cybersecurity threat identification program to include digital asset companies, reflecting growing concern about the scale and sophistication of attacks across the sector.
