Key Highlights
- GSR’s Core3 portfolio model increased Solana’s weighting to 43.6%, establishing it as the dominant position.
- Bitcoin’s allocation dropped to 16.9%, representing its lowest share among the three major assets tracked.
- Ethereum’s weighting decreased to 39.5% following its top position the previous week.
- Solana delivered a 2.98% gain over the seven-day period, surpassing both Bitcoin and Ethereum.
- Recent weeks have seen Morgan Stanley and 21Shares introduce U.S.-based Solana exchange-traded products.
On August 12, GSR implemented a significant rebalancing of its Core3 model portfolio, elevating Solana’s position to 43.6% — establishing it as the portfolio’s largest holding — while simultaneously reducing Bitcoin’s share to a mere 16.9%.
This adjustment marks a notable shift from the previous week’s positioning. As of August 5, the portfolio allocated 36.5% to Solana, 44.1% to Ether, and 19.3% to Bitcoin. In just one week, Solana’s weighting jumped 7.1 percentage points, while Ether declined by 4.6 points and Bitcoin fell by 2.4 points.
According to GSR, the rebalancing decision stemmed from the firm’s proprietary relative alpha signals, which indicated stronger short-term momentum prospects for Solana. The company emphasized that Core3 functions as a model framework designed for institutional investors and does not constitute direct investment advice.
During the seven-day measurement period, Solana delivered the strongest performance with a 2.98% return. In contrast, Bitcoin declined 1.02%, while Ether experienced a modest 0.20% decrease.
When examining the 30-day timeframe, Ether emerged as the top performer with a 7.88% gain. Bitcoin delivered a 3.19% return while Solana recorded a 2.44% increase over the same interval.
How Core3 Has Performed
The Core3 model generated a 0.85% return over the weekly period and 5.30% monthly. These results exceeded the equal-weighted benchmark portfolio, which delivered 0.59% and 4.68% returns across the same timeframes.
Looking at extended horizons, Core3 continues to show negative performance. The model is down 35.58% for the year to date and has declined 70.28% over a twelve-month span. Meanwhile, the equally weighted basket shows losses of 32.22% and 63.44% across those identical periods.
Current 30-day volatility measurements stand at 26.82% for Bitcoin, 39.75% for Ether, and 35.26% for Solana. GSR observed that Solana’s trading volume has declined across both seven and 30-day measurement windows, indicating that the increased allocation wasn’t accompanied by heightened trading activity.
New Solana Investment Vehicles in U.S. Markets
This portfolio adjustment coincides with expanding regulated Solana access for American investors. On July 28, Morgan Stanley introduced the Morgan Stanley Solana Trust (MSOL) on NYSE Arca, featuring a 0.14% expense ratio. The trust is permitted to stake up to 100% of its SOL holdings under standard operating conditions.
Additionally, 21Shares submitted a filing on July 27 announcing it would eliminate the 0.21% sponsor fee on its TSOL product for a one-year period beginning July 28.
Crypto analyst Michaël van de Poppe (@CryptoMichNL) provided technical analysis on SOL’s price action, stating his preference to see Solana maintain its pattern of higher lows. He identified the $73.50–$74 range as a critical support zone that needs to hold. Should that support level remain intact, he maintains price targets approaching $120.
GSR releases Core3 updates on a weekly basis. Bitcoin’s model allocation has fluctuated from 9.2% on July 15 to 19.3% on August 5, before declining to 16.9% in the most recent August 12 update.
The post Solana (SOL) Takes Top Spot in GSR’s Core3 Model as Bitcoin (BTC) Allocation Hits Record Low appeared first on Blockonomi.
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