A joint venture between digital assets market maker Wintermute and crypto news outlet The Block aims to bring much-needed clarity to the increasingly complex crypto landscape. The GMCI 30 index promises transparency and prioritizes regulatory compliance, offering a unique tool for investors and stakeholders.
Instead of simply tracking the top 30 cryptocurrencies by market cap, the GMCI 30 excludes stablecoins and caps the weighting of the leading asset at 25%. This ensures broader representation and avoids excessive influence from any single cryptocurrency.
Inclusion in the index is subject to stringent criteria, going beyond traditional market performance. Assets must be listed on major exchanges like Binance and Bitfinex, supported by regulated custodians like Coinbase Custody, and transparently listed on platforms like CoinMarketCap and CoinGecko. Most importantly, tokens must adhere to U.S. Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, addressing concerns about opaqueness and potential regulatory hurdles.
This focus on compliance sets the GMCI 30 apart from other indices. By incorporating leading, compliant assets and reputable service providers, it aims to offer a reliable and transparent benchmark for investors and stakeholders who value responsible participation in the crypto market.
The launch of the GMCI 30 comes amidst ongoing discussions about crypto valuations and the need for better market understanding. Wintermute CEO Evgeny Gaevoy recently highlighted the lack of transparency in some major crypto projects, emphasizing the need for improved tracking tools. The GMCI 30, designed with these concerns in mind, could serve as a valuable tool for navigating the ever-evolving crypto landscape.