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GSR Crypto Portfolio Falls 58%, Bitcoin Outperforms Ethereum and Solana
Crypto market maker GSR has released the latest performance update for its Crypto Core3 model portfolio, showing that even professionally managed crypto portfolios have struggled in 2026. Over the past year, the portfolio returned -57.78%, underperforming an equal-weight portfolio of Bitcoin, Ethereum, and Solana, which fell 49.84% during the same period.
Latest Portfolio Allocation
As of August 5, GSR’s Core3 portfolio consists of:
- Ethereum: 44.1%
- Solana: 36.5%
- Bitcoin: 19.3%
The latest rebalance increased Bitcoin exposure while reducing Ethereum allocation as trading activity slowed and market volatility eased.
Bitcoin Remains the Strongest Performer
Bitcoin has been the strongest performer among the three assets this year. It is down 24.82% year-to-date and 47.08% over the past year.
Over the last 30 days, Bitcoin gained 1.26%. Its 30-day volatility stood at 29.89%, the lowest among the three assets.
Ethereum Still Holds the Largest Weight
Despite the rebalance, Ethereum remains the portfolio’s largest holding at 44.1%.
ETH is down 35.49% year-to-date and 44.73% over the past year. However, it posted the strongest monthly gain, rising 5.16% over the last 30 days. Its 30-day volatility is 41.69%.
Solana Holds a Steady Allocation
Solana accounts for 36.5% of the portfolio.
SOL has posted the largest decline among the three assets, falling 40.21% year-to-date and 54.89% over the past year. It also dropped 9.64% over the last 30 days.
GSR said Solana’s lower volatility and stable price movement supported its relatively large allocation in the portfolio.
Outside GSR’s report, market analyst IamDegenLabs said several developments could improve Solana’s outlook in the coming weeks.
The analyst pointed to governance proposals that aim to increase token burns and reduce inflation, BlackRock’s filing to launch tokenized fund shares on Solana, more than 1 billion weekly network transactions, and continued ETF inflows.
According to the analyst, $75 is the key resistance level. A move above it could push SOL toward $78-$80, while a drop below $70.70 could send the price to the $66-$68 range.
GSR Adjusts to a Slower Market
According to GSR, crypto markets remained subdued over the past week, with lower trading volumes, smaller price swings, and easing volatility.
The firm responded by adopting a more balanced allocation while modestly increasing its Bitcoin exposure.
The latest update shows Bitcoin has outperformed Ethereum and Solana during the current market cycle. However, all three assets remain well below their levels from a year ago, highlighting the broader downturn across the crypto market.
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