GSR, a global digital-asset investment firm, has significantly rebalanced its Core3 trading model portfolio, cutting Bitcoin's weighting to 16.9% while raising Solana's allocation to 43.6%. According to reports from Wu Blockchain, Core3 is GSR's weekly rebalanced signal portfolio that shows where the firm's trading desk sees relative strength across Bitcoin, Ether, and Solana. The model does not hold client funds but converts GSR's short-term market view into a weighting that readers can track. As crypto.news reports, this marks a sharp reversal from the prior week when GSR assigned 36.5% to Solana, 44.1% to Ether and 19.3% to Bitcoin on August 5.
The rebalancing reflects recent price performance, with Solana gaining 2.98% over the past week while Bitcoin fell 1.02% and Ether slipped 0.20% during the same period. As reported by Wu Blockchain, Ether's weighting fell to 39.5%, with Solana taking the largest position that Ether previously held. The shift tracks short-term price action rather than longer-term returns, favoring recent relative strength over trailing performance. However, over the past 30 days, Ether rose 7.88%, the best performance among the three assets, highlighting the volatile nature of cryptocurrency performance across different timeframes. As crypto.news notes, this represents a significant change from the prior week when Ether led weekly returns at 3.19% compared to Bitcoin's 2.44% and Solana's 2.44%.
Despite Bitcoin's 30-day volatility reading of 26.82% being the lowest of the three assets, GSR moved against conventional risk-adjusted models. According to Wu Blockchain, Solana trades near $76 with its 60-day volatility of 48.84% being the highest of the group, nearly nineteen points above Bitcoin's 29.49%. This combination of the largest allocation paired with the highest volatility reading makes Solana the swing factor in Core3's near-term returns. As crypto.news reports, Solana's 30-day volatility stands at 35.26%, while Ether's is 39.75% and Bitcoin's is 26.82%. The firm noted that Solana trading volume had softened over both seven and 30-day periods, meaning its larger model weight did not coincide with stronger volume across those windows.
The rebalancing comes as Core3 has underperformed its benchmark significantly. As reported by Wu Blockchain, Core3 lost 70.28% over the past year compared with a 63.44% loss for the equal-weight basket, and is down 35.58% year to date versus 32.22% for the benchmark. However, the latest weekly rebalance shows improvement with Core3 gaining 5.30% over one month compared to the equal weight basket's 4.68%. As crypto.news reports, the Core3 model returned 0.85% over one week and 0.59% over one month, ahead of the equal weight basket at 0.59% and 4.68% respectively. GSR's active tilts have added risk without adding return over this stretch, with the new Solana-heavy weighting potentially determining whether this gap closes or widens in future rebalances.
