According to Cointelegraph: Digital assets market maker Wintermute and cryptocurrency news outlet The Block have announced a joint venture to establish a new cryptocurrency market price tracking index referred to as the Global Markets Crypto Intelligence (GMCI). This initiative is set to maintain the GMCI 30 index, which tracks the top 30 cryptocurrencies by market capitalization, though the weight of the highest-ranked asset is capped at 25% of the index’s total value. Notably, stablecoins will be exempt from the index.
For a coin or token to become part of GMCI, it must be listed on one of the prominent centralized exchanges, which include Binance, Bitfinex, Bitstamp, Bybit, Coinbase, Kraken, OKX, and Upbit. These digital assets must also be supported by either BitGo, Coinbase Custody, or Gemini Custody, and be listed on both CoinMarketCap and CoinGecko. The index prohibits the inclusion of tokens non-compliant with U.S. Know Your Customer and Anti-Money Laundering laws.
Maarten Botman, the CEO of GMCI, stated that the indices aim to bring transparency and simplicity to the rapidly evolving crypto asset class. The firm will source its index-pricing calculations from data feeds aggregated by Coin Metrics. This announcement follows The Block's recent move to sell 80% of its stake to Singaporean VC firm Foresight Ventures for $60 million.
