GSR drastically overhauled the composition of its Core3 portfolio model on August 12, 2026. Solana now occupies the top spot with a 43.6% weighting, surpassing Ethereum at 39.5%. This shift in composition automatically pushes Bitcoin down to its smallest share in the model, leaving it at just 16.9%.
The reallocation within the model happened rapidly. Data from the previous week on August 5 showed Solana at 36.5%, while Ethereum led with 44.1% and Bitcoin held a 19.3% share. This means that in just seven days, Solana’s weighting surged by 7.1 percentage points, drawing from Ethereum’s share, which fell by 4.6 points, and Bitcoin’s, which decreased by 2.4 points.
Alpha Signals and Yield Contrast
GSR stated that the allocation overhaul was driven by its internal relative alpha signals, which currently favor Solana. The cryptocurrency is seen as displaying more resilient short-term price momentum compared to its two main competitors in the market.
Yield data over the past week aligns with the signal readings. Solana recorded a 2.98% increase, contrasting with Bitcoin’s 1.02% decline and Ethereum’s slight 0.20% drop. Nevertheless, in terms of price performance over the past month, Ethereum remains far ahead with a 7.88% gain, while Bitcoin posted 3.19% and Solana lagged at the bottom with 2.44%.
A New Wave of Institutional Products
GSR’s decision to increase Solana’s weighting comes alongside the expansion of institutional investment instruments based on the coin on U.S. stock exchanges. On July 28, 2026, Morgan Stanley Investment Management officially launched the Morgan Stanley Solana Trust, or MSOL, which began trading on the NYSE Arca exchange. The product features an expense ratio of 0.14% and has the operational flexibility to stake 100% of the managed Solana assets under management.
Competition among these institutional products quickly heated up. On the same day, another fund issuer 21Shares took aggressive steps to attract inflows by waiving the 0.21% management fee for its TSOL product. This fee waiver is fully applicable for one year from the launch date.
Of note, GSR emphasized that Core3 is not an active, real-world investment recommendation but rather a model framework for professional investors. The model’s historical performance has also not always been positive; year-to-date, the Core3 model has recorded a 35.58% decline in value, and its performance over the past year has plunged by 70.28%.
The move to alter the portfolio with a heavy bet on Solana is a decision based on short-term momentum. Just how far this momentum can last to shift long-term sentiment will be proven by capital flows over the coming weeks.
Reported from crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
