GSR raised Solana to the largest weighting in its Core3 model portfolio, lifting the allocation to 43.7% while trimming Ether and Bitcoin. The trading firm points to Solana's stronger near-term price momentum, even as the token's trading volume has weakened.
Its Core3 model portfolio now holds 43.7% in Solana, overtaking both Bitcoin and Ether as the fund's largest position. The firm cut its Ether weighting to 39.5% and trimmed Bitcoin slightly to 16.9%.
GSR cites Solana's momentum
According to GSR, crypto markets stayed "constructive" over the past week. The firm said trading remained relatively calm and that the reweighting aligns with Solana's stronger near-term price momentum, though Solana's trading volume has weakened over both the seven-day and 30-day periods. Ether still posted the strongest 30-day return of 6.4% even after its portfolio weight was reduced, while Bitcoin remains the smallest allocation and its longer-term trading activity has also stayed subdued.
GSR launched its first exchange-traded fund in April this year. The Crypto Core3 ETF trades under the ticker BESO on Nasdaq and carries a 1% management fee, and it also offers active portfolio management and staking rewards on eligible assets.
The fund rebalances every week based on research-driven signals designed to pursue additional returns. One user on X speculated whether the move could signal the start of an altcoin rotation.
Solana eyes the $100 level
Solana is currently hovering above $76. Analyst Ali Martinez said SOL is trading inside a parallel channel, with the $78 level growing important. A break above the mid-range could open the way toward the upper boundary near $100. A buy signal from the TD Sequential indicator on its daily chart further supported the bullish thesis, and the MACD has also formed a golden cross.
Sources: GSR, CryptoPotato
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