- Bitget has added GMCI indices to the futures market.
- According to the team, this will allow traders to securely access diversified assets.
Cryptocurrency exchange Bitget announced the integration of indexes GMCI to the futures market. Representatives of the company told Incrypted about this.
The press release said this will allow traders to securely access diversified assets. According to the team, GMCI indices are selected based on strict criteria, providing a proven overview of the market.
In particular, for an asset to be included in the GMCI indices, it must be actively traded on at least one of the eight major centralized exchanges (CEX) with sufficient trading volume, Bitget said. In addition, each coin must be supported by at least one of three custodians, which guarantees the integrity and security of the assets.
“Indices focus on coins with transparent market capitalization in circulation. Market capitalization information is taken from CoinMarketCap and CoinGecko, and current price data is provided by Coin Metrics, which also acts as an independent agent for the calculation of the GMCI indices,” it said.
Bitget added that the GMCI 30 Index is different in that it includes the top 30 tokens from the GMCI asset pool, excluding stablecoins, wrapped assets and staked assets. According to the team, “This index provides traders with exposure to leading digital assets while reflecting the movements of the broader market, providing diversification and reducing excessive concentration in a single asset.”
Bitget CEO Gracie Chen said:
“At Bitget, we prioritize the safety of our users while offering innovative, world-class products. This is in line with our strategy to accelerate the adoption of cryptocurrencies into a secure ecosystem. By providing carefully selected assets backed by trusted custodians, we aim to give traders diversified tools for managing their money.”
It is known that indices are rebalanced every last Friday of the month, with adjustments based on the market capitalization of the coins. The exchange team noted that this process ensures that the indices are up-to-date and accurately reflect current market trends and price changes. While individual token positions are capped at 25% during rebalancing, they can change based on price movements, providing a dynamic view of market trends throughout the month, Bitget added.
Bitget believes that the GMCI Meme Index is in line with the growing interest in the memecoin market, it includes the leading memecoins that are traded on select exchanges, giving users the ability to safely track trends in this area.
GMCI CEO Maarten Bothman said:
“Our collaboration with Bitget to launch the GMCI 30 Index Perpetual Contract is an important step towards expanding access to our index solutions to a wider audience. Bitget, as one of the leading crypto exchanges in terms of trading volume and innovation, shares our vision of providing reliable and modern products for traders. This is just the beginning of a further partnership where the GMCI indices will be used as a benchmark for innovative trading products on leading platforms.”
GMCI indices provide traders with access to various market segments, providing the reliability and transparency that investors expect in traditional financial markets, Bitget concluded.
