Wintermute, a digital assets market maker, is partnering with crypto news outlet The Block to introduce an innovative market price monitoring index for cryptocurrencies.
As per the declaration made on February 12, the Global Markets Crypto Intelligence (GMCI)-named joint venture will continue to manage the GMCI 30 index, which tracks the performance of the 30 most valuable cryptocurrencies by market capitalization.
The index’s total value will not exceed 25% weighting for the most valuable asset. The index will exclude stablecoins from its composition.
Tokens and coins must be listed on one of the centralized exchanges—Binance, Bitfinex, Bitstamp, Bybit, Coinbase, Kraken, OKX, or Upbit—to be included in GMCI. Additionally, support from BitGo Custody, Coinbase Custody, or Gemini Custody is required for digital assets.
Moreover, CoinMarketCap and CoinGecko listings are mandatory for the indexed crypto assets. Additionally excluded are tokens that fail to comply with Know Your Customer and Anti-Money Laundering regulations in the United States.
Maarten Botman, CEO of GMCI, stated about the announcement, “GMCI indices are intended to bring transparency and simplicity to this rapidly evolving asset class; tracking the performance of the entire industry as well as its sub-sectors will become incredibly simple.” The firm will obtain data inputs from the aggregator Coin Metrics for index-pricing calculations.
Wintermute CEO Evgeny Gaevoy stated on X before the announcement of the index, “Having examined the top 10 companies by market capitalization for the first time in years, I now genuinely do not comprehend the fuss surrounding crypto valuations.”
The Block, a co-builder of the GMCI index, sold Foresight Ventures, a Singaporean venture capital firm, 80% of its stake for $60 million in November of last year.
