Crypto Market Maker Wintermute’s Singaporean Derivatives Trading Unit Wintermute Asia has introduced a contract for difference (CFD) linked to the GMCI USA Select Index, enabling traders to quickly adapt to develop market stories, especially regarding the potential establishment of a strategic digital asset reserve .
The index traces the performance of the top crypto projects with a legal entity based in the United States based on their circulating supply.
Payments-focused Cryptocurrency XRP, Solana’s Sun and Memecoin DODE have the highest weight in the index, which also consists of ADA, AVAX, LINK, UNI, HBAR, NEAR, LTC and APT. The index is over 160%since Donald Trump’s victory in the US presidential election in early November.
The composition of the index is such that it provides a benchmark for the evaluation of investment mix and strategies that are focused on US protocols. The CFD offered by Wintermute makes it even easier, allowing the traders to long (buy) or map (sell) the index and profits from rising and declining valuations without owning the constituents of the index. Trading in CFDs is quite popular in currency markets and raw material markets.
“This is the first in a new series of narrative index curve that allows traders to quickly shop and out of stories and rotate to new ones without the hassle of buying and selling all component coins,” Wintermute said in the announcement.
CFD debut is in the midst of the ongoing hope that President Trump will live up to his campaign promise to create a national digital asset reserve. While most people see BTC as an ideal candidate for the reserve, others, including Ripple’s CEO Brad Garlinghouse, have called for a more diversified approach that includes multiple tokens.
“Discussions about a potential US national digital asset warehouse have driven price movements in US-focused tokens. GMUSA gives dealers structured exposure to this theme with a basket with top coins rooted in the US, including XRP, Sun, Dog, Ada, Avax, Link , SUI, XLM, HBAR, UNI, LTC, NEAR AND APT, “Wintermute said.
The market manufacturer added that it plans to launch more narrative indices, giving market participants new ways of expressing views, hedge positions and capturing momentum while bypassing challenges associated with each active trade.
