GSR is a digital-asset trading firm founded in 2013 that provides algorithmic market making, over-the-counter trading and liquidity provision to the cryptocurrency industry. Its core platform, GSR ONE, is a single-dealer venue giving institutional clients trade execution, portfolio analytics and asset transfers across the exchanges and token markets it covers. The firm also runs a venture-investing arm and, since April 2026, an asset-management business anchored by the GSR Crypto Core3 ETF (Nasdaq: BESO), an actively managed fund tracking bitcoin, ether and solana that also passes through staking yield on the eligible tokens. GSR positions itself as a capital-markets partner to five customer segments: token issuers, cryptocurrency exchanges, financial institutions, fintech and payments companies, and asset managers. Where many crypto market makers stop at quoting two-sided prices on exchange order books, GSR pairs that liquidity business with advisory work for token issuers and treasuries, direct venture investment in early-stage projects, and, as of June 2026, a FINRA-registered broker-dealer subsidiary. The combination targets institutional and corporate clients who want one counterparty across trading, capital raising and regulated US market access rather than separate vendors for each function. GSR was founded in 2013 by Cristian Gil and Rich Rosenblum, both former Goldman Sachs energy traders. Gil now serves as chairman; Rosenblum left the firm in December 2024 after a brief period as co-CEO. Day-to-day leadership since then has sat with CEO Xin Song and President Jakob Palmstierna. The firm holds a Money Service Business registration in the US through GSR Digital LLC, is registered with the UK Financial Conduct Authority through GSR Markets UK Limited, and is authorized as a Major Payment Institution by Singapore's Monetary Authority through GSR Markets Pte. Ltd. Per its own and investor disclosures, GSR has executed over one trillion dollars in trading volume since inception across more than 300 liquidity partners. In May 2026, Standard Chartered's venture arm, SC Ventures, took a stake in GSR at a valuation above one billion dollars, the firm's first outside investment since its 2013 founding. GSR expanded quickly through 2026: it acquired the token-advisory firms Autonomous and Architech for 57 million dollars in March to build an integrated capital-markets and treasury platform for crypto issuers, launched the Crypto Core3 ETF on Nasdaq in April, and in June completed a FINRA-approved acquisition of the Portland-based, SEC-registered broker-dealer Equilibrium Capital Services, which now operates as GSR Securities to support institutional clients in the US.
