{
  "snapshot": {
    "date": "2026-06-23",
    "constituents": [
      {
        "id": "tether-gold",
        "symbol": "XAUT",
        "name": "Tether Gold",
        "metal": "gold",
        "market_cap_usd": 2521459532,
        "price_usd": 4114.4,
        "volume_24h_usd": 140990540,
        "missing": false,
        "weight_pct": 48.75464876897859
      },
      {
        "id": "pax-gold",
        "symbol": "PAXG",
        "name": "PAX Gold",
        "metal": "gold",
        "market_cap_usd": 1872882196,
        "price_usd": 4122.01,
        "volume_24h_usd": 117770382,
        "missing": false,
        "weight_pct": 36.213832699994065
      },
      {
        "id": "kinesis-gold",
        "symbol": "KAU",
        "name": "Kinesis Gold",
        "metal": "gold",
        "market_cap_usd": 316912241,
        "price_usd": 132.81,
        "volume_24h_usd": 41855,
        "missing": false,
        "weight_pct": 6.127778298424381
      },
      {
        "id": "kinesis-silver",
        "symbol": "KAG",
        "name": "Kinesis Silver",
        "metal": "silver",
        "market_cap_usd": 236196645,
        "price_usd": 62.53,
        "volume_24h_usd": 436954,
        "missing": false,
        "weight_pct": 4.567070905259377
      },
      {
        "id": "pleasing-gold",
        "symbol": "PGOLD",
        "name": "Pleasing Gold",
        "metal": "gold",
        "market_cap_usd": 80631535,
        "price_usd": 4133.87,
        "volume_24h_usd": 12.34,
        "missing": false,
        "weight_pct": 1.5590819994284977
      },
      {
        "id": "matrixdock-gold",
        "symbol": "XAUM",
        "name": "Matrixdock Gold",
        "metal": "gold",
        "market_cap_usd": 63330560,
        "price_usd": 4110.35,
        "volume_24h_usd": 292713,
        "missing": false,
        "weight_pct": 1.2245523554739028
      },
      {
        "id": "goldfish-gold",
        "symbol": "GGBR",
        "name": "Goldfish Gold",
        "metal": "gold",
        "market_cap_usd": 32327903,
        "price_usd": 4.1,
        "volume_24h_usd": 156975,
        "missing": false,
        "weight_pct": 0.6250885791343366
      },
      {
        "id": "streamex-gldy",
        "symbol": "GLDY",
        "name": "Streamex GLDY",
        "metal": "gold",
        "market_cap_usd": 12660208,
        "price_usd": 4113.49,
        "volume_24h_usd": 0,
        "missing": false,
        "weight_pct": 0.24479631203623572
      },
      {
        "id": "uranium",
        "symbol": "XU3O8",
        "name": "Uranium³O₈",
        "metal": "uranium",
        "market_cap_usd": 8480156,
        "price_usd": 5.3,
        "volume_24h_usd": 531692,
        "missing": false,
        "weight_pct": 0.1639713118688063
      },
      {
        "id": "gold-token-sa-dgld-tokenized-gold",
        "symbol": "DGLD",
        "name": "Gold Token SA DGLD",
        "metal": "gold",
        "market_cap_usd": 6635553,
        "price_usd": 4137.69,
        "volume_24h_usd": 23114,
        "missing": false,
        "weight_pct": 0.12830428241945
      },
      {
        "id": "vnx-gold",
        "symbol": "VNXAU",
        "name": "VNX Gold",
        "metal": "gold",
        "market_cap_usd": 5882418,
        "price_usd": 133.63,
        "volume_24h_usd": 9797.06,
        "missing": false,
        "weight_pct": 0.11374175149851959
      },
      {
        "id": "comtech-gold",
        "symbol": "CGO",
        "name": "Comtech Gold",
        "metal": "gold",
        "market_cap_usd": 5145724,
        "price_usd": 132.66,
        "volume_24h_usd": 861009,
        "missing": false,
        "weight_pct": 0.09949712184478698
      },
      {
        "id": "matrixdock-silver",
        "symbol": "XAGM",
        "name": "Matrixdock Silver",
        "metal": "silver",
        "market_cap_usd": 4383251,
        "price_usd": 66.43,
        "volume_24h_usd": 34470,
        "missing": false,
        "weight_pct": 0.0847540324399996
      },
      {
        "id": "gold-dao",
        "symbol": "GOLDAO",
        "name": "Gold DAO",
        "metal": "gold",
        "market_cap_usd": 1898278,
        "price_usd": 0.00279982,
        "volume_24h_usd": 443.01,
        "missing": false,
        "weight_pct": 0.03670488301768198
      },
      {
        "id": "kinka",
        "symbol": "XNK",
        "name": "Kinka",
        "metal": "gold",
        "market_cap_usd": 1987974,
        "price_usd": 4126.47,
        "volume_24h_usd": 79707,
        "missing": false,
        "weight_pct": 0.03843923445996493
      },
      {
        "id": "gold-token",
        "symbol": "GLDT",
        "name": "Gold Token",
        "metal": "gold",
        "market_cap_usd": 654118,
        "price_usd": 1.1,
        "volume_24h_usd": 608.36,
        "missing": false,
        "weight_pct": 0.012647949704816733
      },
      {
        "id": "gold-fgld-finest-tokenized-gold",
        "symbol": "FGLD",
        "name": "fGLD",
        "metal": "gold",
        "market_cap_usd": 182506,
        "price_usd": 118.36,
        "volume_24h_usd": 597.71,
        "missing": false,
        "weight_pct": 0.003528914827030112
      },
      {
        "id": "tenbin-gold",
        "symbol": "TGLD",
        "name": "Tenbin Gold",
        "metal": "gold",
        "market_cap_usd": 80710,
        "price_usd": 4088.5,
        "volume_24h_usd": 354.56,
        "missing": false,
        "weight_pct": 0.0015605991895587012
      }
    ],
    "total_market_cap_usd": 5171731508,
    "methodology_version": "v1.4"
  },
  "index": {
    "date": "2026-06-23",
    "fetched_at": "2026-06-23T10:10:11.555Z",
    "base_date": "2026-06-22",
    "base_value": 100,
    "gmri": 98.24,
    "gmri_ew": 99.11,
    "base_total_mcap": 5250675836,
    "today_total_mcap": 5171731508,
    "active_constituents": 18,
    "universe_size": 18,
    "family": {
      "live": {
        "TS-GMRI-EW": {
          "code": "TS-GMRI-EW",
          "name": "TS-GMRI Equal-Weighted",
          "n": 18,
          "value": 99.11,
          "notes": "Each active constituent weighted 1/N at base."
        },
        "TS-GMRI-CAP20": {
          "code": "TS-GMRI-CAP20",
          "name": "TS-GMRI Issuer-Capped 20%",
          "n": 18,
          "value": 97.64,
          "notes": "Single-issuer weight capped at 20%; excess pro-rata to uncapped. Unverified issuers treated standalone."
        },
        "TS-GMRI-AU": {
          "code": "TS-GMRI-AU",
          "name": "TS-GMRI Gold",
          "n": 15,
          "value": 98.48,
          "notes": "Subset: tokens backed by physical gold."
        },
        "TS-GMRI-PRE": {
          "code": "TS-GMRI-PRE",
          "name": "TS-GMRI Precious",
          "n": 17,
          "value": 98.24,
          "notes": "Subset: gold + silver + platinum + palladium."
        },
        "TS-GMRI-AG": {
          "code": "TS-GMRI-AG",
          "name": "TS-GMRI Silver",
          "n": 2,
          "value": 93.47,
          "notes": "Subset: tokens backed by physical silver."
        }
      },
      "slots": [
        {
          "code": "TS-GMRI-BASE",
          "name": "TS-GMRI Base Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "No live retail tokens for base metals as of base date. Methodology slot registered for prior art."
        },
        {
          "code": "TS-GMRI-BTR",
          "name": "TS-GMRI Battery Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Battery metals are the dominant narrative in commodity tokenization (energy transition, EV supply chain). No live retail tokens as of base date 22 June 2026. Methodology registered for prior art."
        },
        {
          "code": "TS-GMRI-FE",
          "name": "TS-GMRI Bulk Ferrous",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Iron ore is the largest mined commodity by volume globally. Tokenization pilots discussed (e.g. SGX, Comex) but no live retail tokens at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-CRT",
          "name": "TS-GMRI Critical Materials",
          "n": 1,
          "threshold": 3,
          "status": "Active constituents: 1. Publish threshold: N>=3.",
          "reason": "Currently 1 eligible (XU3O8). Threshold for publication: 3 constituents."
        },
        {
          "code": "TS-GMRI-FA",
          "name": "TS-GMRI Ferroalloys",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Ferroalloys are essential steelmaking inputs but trade physically. No live retail tokens at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-LT",
          "name": "TS-GMRI Light Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Light metals overlap partially with base metals (Al) and critical (Ti, Be). Dedicated slot allows aerospace/EV body-panel narrative segmentation. No live retail tokens at base date."
        },
        {
          "code": "TS-GMRI-MN",
          "name": "TS-GMRI Minor Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Minor metals trade thinly, often as by-products. No retail tokenization exists at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-REF",
          "name": "TS-GMRI Refractory Metals",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Refractory metals are strategic for high-temperature alloys and electronics. No live retail tokens at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-STL",
          "name": "TS-GMRI Steel",
          "n": 0,
          "threshold": 3,
          "status": "Active constituents: 0. Publish threshold: N>=3.",
          "reason": "Steel is the most produced metal globally. SGX iron-ore-linked products and limited steel futures exist; no live retail tokenization at base date. Slot registered for prior art."
        },
        {
          "code": "TS-GMRI-JUR",
          "name": "TS-GMRI by Jurisdiction",
          "threshold_per_jurisdiction": 2,
          "max_verified_per_jurisdiction": 1,
          "status": "CH-vault/BVI-issuer: 1 verified issuer(s); US-NYDFS: 1 verified issuer(s); KY/LI: 1 verified issuer(s); SG: 1 verified issuer(s); LI: 1 verified issuer(s); AE-Dubai: 1 verified issuer(s)",
          "reason": "Awaiting issuer diversification — current map has 1 verified issuer per jurisdiction. Publish threshold: >=2 verified issuers per jurisdiction."
        }
      ]
    },
    "per_token": [
      {
        "symbol": "XAUT",
        "metal": "gold",
        "base_mcap": 2566854319,
        "today_mcap": 2521459532,
        "base_price": 4188.1,
        "today_price": 4114.4,
        "weight_pct": 48.75464876897859,
        "return_pct": -1.768498767693405
      },
      {
        "symbol": "PAXG",
        "metal": "gold",
        "base_mcap": 1906909991,
        "today_mcap": 1872882196,
        "base_price": 4195.65,
        "today_price": 4122.01,
        "weight_pct": 36.213832699994065,
        "return_pct": -1.784446836012199
      },
      {
        "symbol": "KAU",
        "metal": "gold",
        "base_mcap": 306789740,
        "today_mcap": 316912241,
        "base_price": 128.57,
        "today_price": 132.81,
        "weight_pct": 6.127778298424381,
        "return_pct": 3.2994913715171936
      },
      {
        "symbol": "KAG",
        "metal": "silver",
        "base_mcap": 251575935,
        "today_mcap": 236196645,
        "base_price": 66.61,
        "today_price": 62.53,
        "weight_pct": 4.567070905259377,
        "return_pct": -6.113180102063421
      },
      {
        "symbol": "XAUM",
        "metal": "gold",
        "base_mcap": 64218820,
        "today_mcap": 63330560,
        "base_price": 4179.21,
        "today_price": 4110.35,
        "weight_pct": 1.2245523554739028,
        "return_pct": -1.3831770811111088
      },
      {
        "symbol": "GGBR",
        "metal": "gold",
        "base_mcap": 24140660,
        "today_mcap": 32327903,
        "base_price": 4.2,
        "today_price": 4.1,
        "weight_pct": 0.6250885791343366,
        "return_pct": 33.914743838817984
      },
      {
        "symbol": "GLDY",
        "metal": "gold",
        "base_mcap": 12937920,
        "today_mcap": 12660208,
        "base_price": 4203.73,
        "today_price": 4113.49,
        "weight_pct": 0.24479631203623572,
        "return_pct": -2.1464965002102376
      },
      {
        "symbol": "XU3O8",
        "metal": "uranium",
        "base_mcap": 8605983,
        "today_mcap": 8480156,
        "base_price": 5.37,
        "today_price": 5.3,
        "weight_pct": 0.1639713118688063,
        "return_pct": -1.4620874803029427
      },
      {
        "symbol": "DGLD",
        "metal": "gold",
        "base_mcap": 6703870,
        "today_mcap": 6635553,
        "base_price": 4180.29,
        "today_price": 4137.69,
        "weight_pct": 0.12830428241945,
        "return_pct": -1.0190680905208471
      },
      {
        "symbol": "VNXAU",
        "metal": "gold",
        "base_mcap": 5953992,
        "today_mcap": 5882418,
        "base_price": 135.15,
        "today_price": 133.63,
        "weight_pct": 0.11374175149851959,
        "return_pct": -1.202117839594008
      },
      {
        "symbol": "CGO",
        "metal": "gold",
        "base_mcap": 5275580,
        "today_mcap": 5145724,
        "base_price": 135.27,
        "today_price": 132.66,
        "weight_pct": 0.09949712184478698,
        "return_pct": -2.4614544751477507
      },
      {
        "symbol": "XAGM",
        "metal": "silver",
        "base_mcap": 4433126,
        "today_mcap": 4383251,
        "base_price": 67.18,
        "today_price": 66.43,
        "weight_pct": 0.0847540324399996,
        "return_pct": -1.1250526152426055
      },
      {
        "symbol": "XNK",
        "metal": "gold",
        "base_mcap": 2026773,
        "today_mcap": 1987974,
        "base_price": 4204.92,
        "today_price": 4126.47,
        "weight_pct": 0.03843923445996493,
        "return_pct": -1.9143239030715353
      },
      {
        "symbol": "GOLDAO",
        "metal": "gold",
        "base_mcap": 2037734,
        "today_mcap": 1898278,
        "base_price": 0.00300412,
        "today_price": 0.00279982,
        "weight_pct": 0.03670488301768198,
        "return_pct": -6.843680284080255
      },
      {
        "symbol": "GLDT",
        "metal": "gold",
        "base_mcap": 692969,
        "today_mcap": 654118,
        "base_price": 1.17,
        "today_price": 1.1,
        "weight_pct": 0.012647949704816733,
        "return_pct": -5.606455700038526
      },
      {
        "symbol": "FGLD",
        "metal": "gold",
        "base_mcap": 213180,
        "today_mcap": 182506,
        "base_price": 138.25,
        "today_price": 118.36,
        "weight_pct": 0.003528914827030112,
        "return_pct": -14.388779435219067
      }
    ],
    "rebased_at": "2026-06-23T11:09:41.326Z",
    "rebased_note": "Recomputed against Series A baseline (22 June 2026 EOD).",
    "methodology_version": "v1.4"
  }
}