GSR has made Solana its largest portfolio allocation at 43.7%, reducing Ether to 39.5% and Bitcoin to 16.9%. The trading firm’s Core3 model portfolio shift comes amid “constructive” market conditions and Solana’s stronger near-term momentum, though its trading volume has weakened. Solana trades near $76, with analysts noting key resistance at $78 and a possible move toward $100. Meanwhile, Glassnode reports Bitcoin is stuck in a tight range with spot volume at its lowest since 2019, and a decisive break above $68,700 or below $58,500 could determine the market’s next direction.
GSR rebalanced its Core3 model portfolio, increasing Solana to 43.7% while cutting Ether to 39.5% and Bitcoin to 16.9%. The trading firm noted that trading remained relatively calm and the move aligns with Solana’s stronger near-term price momentum, though the asset’s trading volume weakened over both seven-day and 30-day periods.
Ether still posted the strongest 30-day return of 6.4% even after its portfolio weight was reduced. Bitcoin remains the smallest allocation in the portfolio.
GSR launched its first exchange-traded fund, the Crypto Core3 ETF (ticker BESO on Nasdaq), in April, with a 1% management fee that includes active portfolio management and staking rewards on eligible assets. The fund rebalances weekly based on research-driven signals.
One user on X speculated whether the move could signal the start of an altcoin rotation. Solana is currently hovering above $76, and analyst Ali Martinez said SOL is trading inside a parallel channel, with the $78 level becoming important.
A break above the mid-range could open the way toward the upper boundary near $100. A buy signal from the TD Sequential on its daily chart and a golden cross on the MACD further supported the bullish thesis.
Glassnode stated that Bitcoin is stuck in a tight range as buyers remain largely absent, with the price sitting between the Median Realized Price at $63,000 and the Short-Term Holder Cost Basis at $68,700. Spot trading volume has fallen to its lowest level since 2019.
The firm explained that sellers are showing signs of exhaustion, while several indicators are moving closer to levels seen during previous bear-market bottoms. At the same time, leverage has built up on the long side.
If Bitcoin climbs back above $68,700 on stronger volume and ETF inflows pick up, it would be a positive sign. But if it fails to rally or falls below $58,500, the bottom could still be in doubt.
