As DATs reach their peak, GSR places ETF wagers on the evolving institutional crypto landscape

GSR, a prominent crypto market maker, has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to introduce the GSR Digital Asset Treasury Companies ETF (DATs ETF). This fund is intended to benefit from the increasing trend of publicly traded companies adding cryptocurrencies to their corporate treasuries. According to the proposal, at least 80% of the ETF’s assets would be invested in stocks of businesses that hold digital assets on their balance sheets, while up to 15% could be allocated to private investments in public equity (PIPEs), depending on liquidity constraints Wall Street wraps the stock market’s crypto hype into a new ETF [ 1 ] GSR’s new ETF proposal eyes digital asset treasuries amid growing popularity [ 2 ]. This approach reverses the usual method of raising capital, where companies typically issue shares to purchase crypto, effectively leveraging equity markets to amass tokens such as

(BTC), (ETH), and (SOL) Wall Street wraps the stock market’s crypto hype into a new ETF [ 1 ].

Over the last year, the DATs movement has accelerated, attracting $20 billion in venture capital as companies like Upexi Inc. have acquired Solana. GSR, which already manages portfolios for these types of transactions, is now aiming to formalize this approach through its ETF. The fund’s introduction coincides with a larger trend in corporate finance, where businesses are using crypto holdings to diversify their treasury assets and potentially boost shareholder returns GSR’s new ETF proposal eyes digital asset treasuries amid growing popularity [ 2 ]. Still, the launch comes at a debated moment, as data from Architect Partners shows that DAT deal activity peaked in July 2025, and many companies have recently seen their stock prices fall as retail interest has faded Wall Street wraps the stock market’s crypto hype into a new ETF [ 1 ].

The DATs ETF would enter a market alongside existing products such as the Grayscale Bitcoin Adopters ETF (BCOR) and the REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX), which follow similar investment themes. GSR’s move into the ETF arena highlights the sector’s ongoing growth, with more than 90 crypto-related ETFs currently listed in the U.S. The company’s asset management arm, based in New York, is also developing four more ETFs, including an “Ethereum Staking Opportunity” fund and a “Crypto Core3” product that provides balanced exposure to

, ETH, and Wall Street wraps the stock market’s crypto hype into a new ETF [ 1 ].

GSR’s reputation in the industry is strengthened by its status as one of the largest crypto market makers, handling over $1 trillion in token trades each year. Its expertise in managing DAT portfolios, such as Upexi’s Solana purchases, gives it an advantage in navigating this specialized market Wall Street wraps the stock market’s crypto hype into a new ETF [ 1 ]. Experts suggest that the DATs ETF could attract investors interested in gaining exposure to an emerging sector, though they caution about regulatory risks and the volatility inherent to crypto assets GSR’s new ETF proposal eyes digital asset treasuries amid growing popularity [ 2 ].

The SEC’s recent decision to expedite the approval process for commodity-based ETFs, including those tied to cryptocurrencies, has heightened competition in the market. With the regulator currently evaluating numerous ETF applications—including those for SOL,

, and , GSR’s DATs ETF could benefit from a faster review process GSR’s new ETF proposal eyes digital asset treasuries amid growing popularity [ 2 ]. Nevertheless, the company faces a saturated market and changing investor attitudes, as some DAT fundraising rounds appear to have reached their peak GSR’s new ETF proposal eyes digital asset treasuries amid growing popularity [ 2 ].

As the DATs phenomenon continues to develop, GSR’s ETF marks a deliberate move to bring a retail-driven trend into the institutional sphere. By bundling companies that hold crypto into a single investment product, the ETF seeks to connect speculative retail interest with institutional-grade opportunities. Although the long-term prospects for the market are still unclear, the DATs ETF illustrates the increasing convergence of digital assets and traditional finance—a transformation that both regulators and investors are watching closely Wall Street wraps the stock market’s crypto hype into a new ETF [ 1 ] GSR’s new ETF proposal eyes digital asset treasuries amid growing popularity [ 2 ].