GMCI Launches USA Select Index

GMCI recently launched its USA Select Index, tracking U.S.-based crypto protocols. The index has shown remarkable growth since November, increasing from $95 to $269.04 (+183%) as of January 24.

The index consists of 13 assets, providing a standardized benchmark for U.S.-focused crypto investment strategies. Currently, XRP, SOL, and DOGE represent around 66% of the index’s composition, alongside other constituents such as LINK, AVAX, SUI, ADA, and LTC.

This index’s creation aligns with political developments contributing to its upward trend. President Trump’s executive order promoting U.S. cryptocurrency leadership sparked increased attention on domestically-based protocols. The new administration’s regulatory clarity may boost investor confidence in U.S.-based digital assets, including the establishment of a crypto-focused task force within the SEC.

The U.S. is quickly re-establishing itself as a hub for crypto activity. Retail users are driving crypto app rankings to new heights, while onboarding of new users is accelerating. Institutional investors are experiencing increased volumes in spot Bitcoin and Ethereum ETFs, with prospects of more ETFs emerging.

The index may serve as an indicator for other crypto projects to concentrate more efforts in the U.S. Previously, many crypto companies barred U.S. users, while some launched U.S.-specific entities like Binance and FTX. Additionally, it was common for protocols to exclude U.S. users from airdrops and enforce geoblocking access.

This is an excerpt from The Block’s Data & Insights newsletter. Explore the numbers that reveal the industry’s most impactful trends.