GSR has launched its first exchange-traded fund on Nasdaq, the GSR Crypto Core3 ETF, under the ticker BESO. The actively managed fund gives investors exposure to Bitcoin, Ether, and Solana, while also incorporating staking rewards generated from its ETH and SOL positions. The management fee is 1.00%, and the portfolio is rebalanced weekly.
Nasdaq Listing Brings SOL Into a Multi-Asset ETF
GSR CEO Xin Song said the firm spent more than a decade building efficient crypto markets, and that Core3 extends that experience to a broader investor base. Andy Baehr, Managing Director of Asset Management at GSR, said the product is built around three recurring investor questions: what to own, how to earn yield while holding, and how to stay positioned as market conditions change.
Bloomberg ETF analyst James Seyffart said the launch points to a broader trend. In his view, basket ETFs, whether actively or passively managed, could become one of the fastest-growing segments in crypto ETFs over the next few years.
Forward Industries Discloses 6.91 Million SOL
On the corporate treasury side, Forward Industries, listed on Nasdaq under FWDI, said it held 6,910,568 SOL as of November 15, 2025. According to the source material, nearly all of those tokens are staked through the company’s validator infrastructure, which has produced a 6.82% gross annual percentage yield since inception.
Forward also unveiled its validator node on the Solana blockchain, built on DoubleZero and running Jump Crypto’s Firedancer client. The company said it expects the validator to rank among the top 10 on the network by total stake. It also allows ecosystem participants to delegate stake at no cost, adding an operational role beyond simply holding tokens on its balance sheet.
Treasury Strategy Backed by $1.65 Billion Private Placement
Forward launched its treasury strategy in September 2025, acquiring SOL at an average cost of $232.08 per token. The purchases were backed by a $1.65 billion private placement led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
These two developments place Solana in two separate institutional channels at the same time: a regulated ETF structure accessible through standard brokerage accounts, and a public-company treasury strategy tied to live validator operations and staking activity.