1
QUARTERLY REPORT
GSR CRYPTO CORE3 ETF
Consolidated Schedule of InvestmentsAugust 31, 2026 (unaudited)
|
|
|
|
|
Shares |
|
Value |
|
|
75.13% |
|
EXCHANGE TRADED FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75.13% |
|
CRYPTO CURRENCY |
|
|
|
|
|
|
|
|
Bitwise Solana Staking ETF(A) |
|
154,919 |
|
$2,201,399 |
|
|
|
|
ProShares Bitcoin ETF |
|
49,850 |
|
529,906 |
|
|
|
|
ProShares Ultra Bitcoin ETF |
|
38,700 |
|
537,930 |
|
|
|
|
ProShares Ultra Ether ETF |
|
76,400 |
|
1,315,608 |
|
|
|
|
REX-OSPREY SOL + Staking ETF |
|
204,200 |
|
2,854,716 |
|
|
|
|
T-Rex 2X Long Bitcoin Daily Target ETF |
|
21,825 |
|
399,179 |
|
|
|
|
T-Rex 2X Long Ether Daily Target ETF |
|
73,700 |
|
516,637 |
|
|
|
|
|
|
|
|
8,355,375 |
|
|
|
|
|
|
|
|
|
|
|
75.13% |
|
TOTAL EXCHANGE TRADED FUNDS |
|
8,355,375 |
|
||
|
|
|
(Cost: $7,381,734) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24.93% |
|
MONEY MARKET FUND |
|
|
|
|
|
|
|
|
First American Government Obligations Institutional Class Fund 3.582%(B) |
|
2,772,382 |
|
2,772,382 |
|
|
|
|
(Cost: $2,772,382) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.06% |
|
TOTAL INVESTMENTS |
|
11,127,757 |
|
||
|
|
|
(Cost: $10,154,116) |
|
|
|
|
|
|
(0.06% |
) |
Liabilities in excess of other assets |
|
(7,192 |
) |
||
|
100.00% |
|
NET ASSETS |
|
$11,120,565 |
|
||
(A)Non-income producing
(B)Effective 7 day yield as of August 31, 2026
2
QUARTERLY REPORT
GSR CRYPTO CORE3 ETF
Schedule of Investments - continuedAugust 31, 2026 (unaudited)
In accordance with U.S. GAAP, “fair value” is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund’s investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following summarizes the inputs used to value the Fund’s investments as of August 31, 2026:
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
|
|
|
|
Quoted Prices |
|
Other |
|
Significant |
|
Total |
|
Assets |
|
|
|
|
|
|
|
|
|
Exchange Traded Funds |
|
$8,355,375 |
|
$— |
|
$— |
|
$8,355,375 |
|
Money Market Funds |
|
2,772,382 |
|
— |
|
— |
|
2,772,382 |
|
|
|
$11,127,757 |
|
$— |
|
$— |
|
$11,127,757 |
The cost of investments for Federal income tax purposes has been estimated a/o August 31, 2026, since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purposes is $10,154,116, and the related net unrealized appreciation (depreciation) consists of:
|
|
Gross unrealized appreciation |
|
$973,641 |
|
|
|
Gross unrealized depreciation |
|
— |
|
|
|
Net unrealized appreciation (depreciation) |
|
$973,641 |
|