GSR’s Core3 Model Overweights Solana, Cuts Bitcoin to 16.9%

Proprietary relative-alpha signals flagged stronger near-term momentum in Solana, prompting a large reweight that will be re-evaluated at the next weekly update.

Overview

On Aug. 12 GSR raised Solana to 43.6% of its Core3 model while trimming Ether to 39.5% and cutting Bitcoin to 16.9%, making SOL the portfolio’s largest holding.
GSR said the move reflected its proprietary relative-alpha signals that favored Solana’s short-term momentum rather than a simple ranking of recent returns.
Short-term performance supported the change with Solana up 2.98% over seven days while Bitcoin fell 1.02% and Ether slipped 0.20%, though Ether led 30-day gains at 7.88%.
The allocation shift comes as U.S. regulated Solana access has expanded, including Morgan Stanley’s MSOL trust launched July 28 and 21Shares’ fee waiver for TSOL starting July 28, filings note staking and liquidity risks for such products.
GSR cautioned that Core3 is a hypothetical model for professional users, that published returns exclude fees and staking rewards, and that weekly swings mean the Solana overweight may change with the next update.