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GSR Enters ETF Market with Bitcoin, Ethereum, and Staking-Focused Funds
GSR Files for First Crypto ETFs – Wall Street could soon see a fresh wave of crypto-focused ETFs, as GSR, a trading and market-making firm, officially filed to launch its first suite of exchange-traded funds. The lineup includes the GSR Digital Asset Treasury Companies ETF, along with four other funds tied to Ethereum, staking, and major digital assets.
Crypto Treasury Companies in Focus
According to the filing, the GSR Digital Asset Treasury Companies ETF would invest in publicly listed firms that hold cryptocurrencies in their corporate treasuries. These companies often buy and hold digital assets like Bitcoin (BTC) and Ethereum (ETH) for the long term, a strategy that has grown increasingly popular in attracting institutional funding.
Notably, the filing states that the ETF will not restrict itself to companies holding only major tokens. Instead, it could include firms with significant positions in various digital assets, including smaller altcoins. The fund plans to hold between 10–15 positions across 5–10 issuers, with examples such as BitMine Immersion Technologies, SUI Group Holdings, and CEA Industries.
A Broader ETF Suite from GSR
Alongside the treasury ETF, GSR has proposed three staking-focused products:
- GSR Ethereum Staking Opportunity ETF
- GSR Crypto StakingMax ETF
- GSR Ethereum YieldEdge ETF
These funds are designed to capture staking rewards by leveraging offshore subsidiaries to stake ETH, in compliance with the Investment Company Act of 1940 (“40 Act”), which restricts direct crypto holdings.
Market Implications
By targeting both crypto treasury strategies and Ethereum staking opportunities, GSR is positioning itself to appeal to a wide range of institutional and retail investors seeking exposure to digital assets. However, analysts caution that the increasing number of funds and companies experimenting with alternative tokens could raise risks in an already competitive market.
If approved, these ETFs would mark GSR’s first official entry into the ETF arena, potentially opening the door to new forms of regulated crypto investment vehicles on Wall Street.
