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SOL Core Points
GSR's Core3 portfolio model increased Solana's weighting to 43.6%, making it the dominant position.
Bitcoin's allocation ratio dropped to 16.9%, setting the lowest share of the three major assets.
Ethereum's weight dropped to 39.5% from last week's leading position.
Solana rose 2.98% in seven days, outperforming Bitcoin and Ethereum.
Recently, Morgan Stanley and 21Shares launched Solana-based exchange-traded products in the U.S. market.
The GSR model sets Solana to a maximum configuration of 43.6%, and Bitcoin drops to 16.9%.
On August 12, GSR made a major adjustment to its Core3 model portfolio, increasing Solana's allocation to 43.6%, making it the largest position in the portfolio, while reducing Bitcoin's share to only 16.9%.
This adjustment has changed significantly compared to last week's configuration. As of August 5, Solana accounted for 36.5% of the portfolio, Ethereum accounted for 44.1%, and Bitcoin accounted for 19.3%. In just one week, Solana's weight jumped 7.1 percentage points, while Ethereum fell 4.6 percentage points and Bitcoin fell 2.4 percentage points.
According to GSR, the adjustment decision stems from a company-specific relative alpha signal that suggests Solana's short-term momentum outlook is stronger. The company emphasized that Core3 is a model framework designed for institutional investors and does not constitute direct investment advice.
During the seven-day measurement period, Solana performed the strongest with a return of 2.98%. In comparison, Bitcoin fell by 1.02%, while Ethereum fell slightly by 0.20%.
Solana (SOL) Price
From a 30-day time horizon, Ethereum became the best performing asset with a 7.88% increase. Bitcoin's return was 3.19%, while Solana rose 2.44% over the same period.
How does Core3 perform?
The Core3 model has a weekly return of 0.85% and a monthly return of 5.30%. These outperformed the equally weighted benchmark portfolio, which returned 0.59% and 4.68% respectively over the same time frame.
From a longer term, Core 3 still shows negative returns. The model has fallen 35.58% so far this year and has fallen 70.28% over the past twelve months. At the same time, the losses of equal-weighted baskets during the same period were 32.22% and 63.44%, respectively.
The current 30-day volatility data are: Bitcoin 26.82%, Ethereum 39.75%, and Solana 35.26%. GSR observed that Solana's trading volume declined during both the seven-day and thirty-day measurement windows, indicating that the increase in its allocation ratio was not accompanied by active trading activity.
New Solana investment vehicle in the U.S. market
The portfolio adjustment comes as U.S. investors gain more regulated investment channels for Solana. On July 28, Morgan Stanley launched the Morgan Stanley Solana Trust (MSOL) in NYSE Arca with a 0.14% rate. Under standard operating conditions, the trust allows up to 100% of its SOL assets to be pledged.
In addition, 21Shares submitted on July 27, announcing that it will cancel the one-year 0.21% sponsorship fee for its TSOL products starting July 28.
Cryptocurrency analyst Michaël van de Poppe provided a technical analysis of SOL's price movements and expressed his hope to see Solana maintain its higher-low pattern. He pointed out that the US$73.50 to US$74 range is a key support level that needs to be held. If that support is maintained, he maintains his price target near $120.
GSR releases updates for Core3 every week. Bitcoin's model allocation ratio fluctuated from 9.2% on July 15 to 19.3% on August 5, before dropping to 16.9% in the latest update on August 12.
