GSR Files for First-Ever Crypto Treasury ETF on Wall Street

[kevin1]

Crypto trading and market-making firm GSR has filed for its first exchange-traded funds (ETFs), including a new product that targets crypto treasury companies.

According to the filing, the GSR Digital Asset Treasury Companies ETF will invest in public firms that hold significant amounts of digital assets such as Bitcoin, Ethereum, or Solana on their balance sheets. Examples could include corporate holders like BitMine Immersion Technologies or firms managing treasuries in altcoins.

The fund aims to hold 10–15 positions across 5–10 issuers, with no minimum market capitalization requirement. That means smaller companies could be included alongside larger names, offering investors both upside and risk exposure.

Analysts note that such a product would differ from spot crypto ETFs, which track tokens directly. Instead, it gives investors exposure to corporate strategies built on digital assets. Critics warn that some treasury firms chase attention by betting on riskier altcoins, while others view the ETF as a milestone that reflects the growing maturity of crypto markets.