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CoinDesk 2025-01-28 07:16:17

Wintermute Eases Trading of the 'U.S. National Digital Asset Stockpile' Narrative

Crypto market maker Wintermute's Singaporean derivatives trading entity Wintermute Asia has introduced a contract for difference (CFD) linked to the GMCI USA Select Index , enabling traders to swiftly adapt to evolving market narratives, especially concerning the potential establishment of a strategic digital asset reserve. The index tracks the performance of the top crypto projects with a legal entity based in the U.S. based on their circulating supply. Payments-focused cryptocurrency XRP, Solana's SOL and memecoin DOGE have the highest weight in the index, which also comprises of ADA, AVAX, LINK, UNI, HBAR, NEAR, LTC, and APT. The index is up over 160% since Donald Trump's victory in the U.S. presidential election in early November. The composition of the index is such that it provides a benchmark to evaluate investment mix and strategies focused on U.S. protocols. The CFD offered by Wintermute makes it even easier, allowing traders to long (buy) or short (sell) the index and profit from rising and falling valuations without owning the index's constituents. Trading CFDs is quite popular in foreign exchange and commodity markets. "This is the first in a new series of narrative index baskets that allow traders to quickly trade in and out of narratives and rotate into new ones without the hassle of buying and selling all the component coins," Wintermute sa id in the announcement. The CFD debut comes amid ongoing hopes that President Trump will live up to his campaign promise of creating a national digital asset reserve. While most 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 several tokens. "Discussions around a potential U.S. national digital asset stockpile have driven price movements in U.S.-focused tokens. GMUSA gives traders structured exposure to this theme with a basket of top coins rooted in the U.S., including XRP, SOL, DOGE, ADA, AVAX, LINK, SUI, XLM, HBAR, UNI, LTC, NEAR, and APT," Wintermute said. The market maker added that it plans to launch more narrative indexes, providing market participants with new ways to express views, hedge positions and capture momentum while bypassing challenges associated with trading each asset individually.

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