The Block and Wintermute announced the formation of GMCI, a new company that seeks to offer the most comprehensive index products and financial services to the community of cryptocurrency asset managers.
The announcement on February 12 states that Global Markets Crypto Intelligence (GMCI), the new joint venture, will continue to operate its eponymous GMCI 30 index, which tracks the performance of the top 30 cryptocurrencies by market capitalization.
The top asset’s weighting will be restricted to a maximum of 25% of the index’s total value. Stablecoins will not be included in the index. For an asset to be listed in the index, it must fulfill certain requirements.
The asset needs to be supported by at least one of the three chosen custodians including, BitGo, Coinbase Custody, or Gemini Custody, and listed on at least one of the eight chosen centralized exchanges (CEXs), including Binance, Bitfinex, Bitstamp, Bybit, Coinbase, Kraken, OKX, and Upbit).
Maarten Botman, an industry veteran, has been appointed CEO of the new company. Maarten worked at Optiver for more than 15 years before joining. The CEOs of The Block and Wintermute, Evgeny Gaevoy and Larry Cermak, will be members of GMCI’s board of directors.
The GMCI 30 index represents the initial phase of the company’s strategy to provide a diverse array of segment and category-specific indices specifically designed for digital assets. Soon after the flagship index launches, more sector indices that track Layer 1s, Layer 2s, and DeFi protocols exclusively will be released.
A broad variety of indexes representing different asset classes and investing philosophies are the goals of GMCI. Ultimately, a variety of financial instruments that are tradable on elite markets will be built upon these indices.
“GMCI indices are designed to bring transparency and simplicity to this quickly evolving asset class. Tracking the performance of the entire industry as well as its sub-sectors is going to become incredibly simple,” said GMCI CEO, Maarten Botman.
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