
GSR doubles Bitcoin weight as Solana falls 40%
- GSR raised Bitcoin (CRYPTO:BTC) to 19.3% of its Core3 model, up from 9.2% on July 15.
- Solana (CRYPTO:SOL) fell 40.21% this year, while Ethereum (CRYPTO:ETH) declined 35.49%.
- GSR said its lower Ether weighting reflected “relatively stronger forward looking opportunities elsewhere.”
GSR raised Bitcoin (CRYPTO:BTC) to 19.3% of its Core3 model, more than doubling its July 15 allocation.
Solana (CRYPTO:SOL) fell 40.21% this year, while Ethereum (CRYPTO:ETH) lost 35.49% and Bitcoin dropped 24.82%.
GSR said the lower Ether weighting reflected “relatively stronger forward looking opportunities elsewhere.”
The model allocated 44.1% to Ether, 36.5% to Solana and 19.3% to Bitcoin on August 5.
GSR said it increased Bitcoin exposure as trading activity weakened and volatility eased across the three assets.
Ether gained 5.16% over 30 days, while Bitcoin rose 1.26% and Solana declined 9.64%.
GSR’s Core3 model lost 57.78% yearly, trailing an equally weighted basket by 7.94 percentage points before costs.
At the time of reporting, Bitcoin price was $64,686.44.