The Block Backs New Digital Asset Indices Firm Amid ETF Boom

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Feb 12, 2024, 10:00 ET

NEW YORK, Feb. 12, 2024 /PRNewswire/ -- The Block, a premier provider of information services in the digital asset industry, together with Wintermute, a digital asset liquidity provider and OTC trading desk, today announced the backing of GMCI. This new company aims to deliver comprehensive index products for the crypto asset management market.

GMCI is led by Maarten Botman, who brings over 15 years of experience from Optiver to his role as CEO. The company's board of directors includes Larry Cermak, CEO of The Block, and Evgeny Gaevoy, CEO of Wintermute, leveraging their industry expertise.

The company's first major initiative is the launch of the GMCI 30 index, designed to track the price performance of the top 30 crypto assets, offering a benchmark for evaluating investment returns and market performance for both crypto and traditional finance investors.

Criteria for asset inclusion in the GMCI 30 index ensure a diverse representation of the market, requiring assets to be listed on selected exchanges and supported by approved custodians, with details of the index methodology to be available on the GMCI website.

GMCI plans to extend its index offerings beyond the GMCI 30 to include sector-specific indices for digital assets, supporting a broad range of financial products and investment strategies.

The launch of GMCI addresses the growing interest in crypto-tied financial products, as seen with the introduction of Bitcoin spot ETFs. Despite this interest, a universally accepted crypto asset index has been missing, a gap GMCI intends to fill.

GMCI indices, developed in collaboration with experts from the crypto-native and TradFi sectors, will be transparent and governed by strict standards. The company is also working towards BMR compliance to ensure the highest levels of integrity and investability.

GMCI's strategy includes enabling the creation of financial products based on its indices, with Wintermute providing liquidity support and The Block facilitating tracking through a dedicated website.

To view current and future indices, please visit The Block Indices.

About The Block

The Block is the leading information services brand in the digital asset space. The Block's expertise across research, news, and data is unmatched and delivers objective and nuanced insight into how this emerging industry intersects with technology, government, and financial markets.

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About GMCI

GMCI is an index provider incorporated in the Netherlands, building unique indices with a tested methodology. GMCI indices will be designed and managed by experts from both industry-leading crypto-native and TradFi institutions. GMCI's flagship index is GMCI 30.

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Contact
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SOURCE The Block