GSR Boosts Bitcoin Allocation Amid Crypto Market Volatility
GSR's Core3 model portfolio has made significant changes to its cryptocurrency allocations. As of August 5, the portfolio held Ethereum at 44.1%, Solana at 36.5%, and Bitcoin at 19.3%. However, in a recent update, GSR increased the allocation to Bitcoin while reducing its exposure to Ethereum.
The Core3 model portfolio has struggled in the past year, with losses reaching 57.78% compared to an equally weighted basket of the three cryptocurrencies that declined by 49.84%. Year-to-date, Bitcoin fell by 24.82%, Ethereum dropped 35.49%, and Solana lost 40.21%.
GSR attributed these changes to reduced trading activity and market volatility, which made it easier for them to adjust their allocations. The exact percentages of the new allocations are not specified in the source.