GSR has updated its Core3 crypto asset portfolio. In light of recent market activity slowing and volatility narrowing, the firm has rebalanced its allocations to be more diversified and slightly increased its Bitcoin weighting.
Latest position allocation
As of August 5, the latest allocation for the Core3 portfolio is: Ethereum at 44.1%, Solana at 36.5%, and Bitcoin at 19.3%. Although Bitcoin’s weight remains lower than the other two assets, it has still been the most resilient among the three year-to-date.
- Ethereum accounts for 44.1%
- Solana accounts for 36.5%
- Bitcoin accounts for 19.3%
Bitcoin experienced the smallest decline
According to GSR data, Bitcoin has declined 24.82% year-to-date and 47.08% over the past year. Over the past 30 days, Bitcoin has risen 1.26%, with a 30-day volatility of 29.89%, the lowest among the three assets.
This means that during periods of overall market weakness, Bitcoin’s price volatility has been relatively lower, leading to higher allocation. GSR noted that over the past week, the broader crypto market has been relatively flat, with declining trading volumes, narrowed price swings, and falling volatility.
Ethereum remains the largest holding.
Even after the portfolio's rebalancing, Ethereum remains the asset with the highest allocation in Core3. Data shows that ETH has declined 35.49% year-to-date and 44.73% over the past year, but it has risen 5.16% over the last 30 days—the best performance among the three during this period.
However, Ethereum's 30-day volatility is 41.69%, higher than Bitcoin's, reflecting that although ETH has shown a stronger short-term rebound, its price fluctuations remain more significant.
Solana's share remains relatively high.
Solana currently makes up 36.5% of the portfolio. In terms of performance, SOL has experienced the largest decline among the three assets, falling 40.21% year-to-date and 54.89% over the past year; it has also declined 9.64% over the last 30 days.
GSR stated that Solana’s lower volatility and relatively stable price movement support its higher allocation in the portfolio. Another market analyst, IamDegenLabs, believes that Solana’s performance could improve in the coming weeks if new catalysts emerge.
The analyst noted that $75 is a key resistance level. If the price breaks above this level, SOL could rise to the $78–$80 range; if it falls below $70.70, it may decline to the $66–$68 range.