
Crypto trading firm GSR has submitted a proposal to the SEC for its inaugural exchange-traded fund (ETF) focusing on companies that maintain cryptocurrencies like Bitcoin and Ether on their balance sheets. This ETF aims to provide traditional investors exposure to public firms holding substantial digital assets amidst rising corporate crypto reserves exceeding $1 trillion in 2025. While market valuations of these treasury companies face pressure and some firms resort to debt-financed buybacks, Wall Street’s appetite for innovative crypto investment products remains resilient. GSR’s ETF will target primarily U.S.-listed digital asset treasury companies, combine public equity with private investment opportunities, and complement other crypto-focused ETFs the firm is pursuing, including staking products. The initiative highlights both opportunities and challenges in the evolving corporate crypto treasury sector as investor scrutiny intensifies and regulatory momentum around crypto ETFs builds.
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GSR Launches Crypto Treasury ETF to Capture Wall Street’s Growing Interest in Digital Asset Holdings
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