{
  "snapshot": {
    "date": "2026-06-25",
    "fetched_at": "2026-06-25T03:35:40.040Z",
    "total_market_cap_usd": 4962728589,
    "constituents_count": 18,
    "missing_count": 0,
    "constituents": [
      {
        "id": "tether-gold",
        "symbol": "XAUT",
        "name": "Tether Gold",
        "metal": "gold",
        "market_cap_usd": 2431620316,
        "price_usd": 3968.08,
        "volume_24h_usd": 332753899,
        "missing": false,
        "weight_pct": 48.997648619949544
      },
      {
        "id": "pax-gold",
        "symbol": "PAXG",
        "name": "PAX Gold",
        "metal": "gold",
        "market_cap_usd": 1794832607,
        "price_usd": 3970.09,
        "volume_24h_usd": 245572559,
        "missing": false,
        "weight_pct": 36.16624554037243
      },
      {
        "id": "kinesis-gold",
        "symbol": "KAU",
        "name": "Kinesis Gold",
        "metal": "gold",
        "market_cap_usd": 303184662,
        "price_usd": 127.06,
        "volume_24h_usd": 209833,
        "missing": false,
        "weight_pct": 6.109233188210527
      },
      {
        "id": "kinesis-silver",
        "symbol": "KAG",
        "name": "Kinesis Silver",
        "metal": "silver",
        "market_cap_usd": 216025082,
        "price_usd": 57.19,
        "volume_24h_usd": 2523534,
        "missing": false,
        "weight_pct": 4.352949755882771
      },
      {
        "id": "pleasing-gold",
        "symbol": "PGOLD",
        "name": "Pleasing Gold",
        "metal": "gold",
        "market_cap_usd": 78287062,
        "price_usd": 4012.84,
        "volume_24h_usd": 30.82,
        "missing": false,
        "weight_pct": 1.5775003729505788
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      {
        "id": "matrixdock-gold",
        "symbol": "XAUM",
        "name": "Matrixdock Gold",
        "metal": "gold",
        "market_cap_usd": 61785467,
        "price_usd": 3976.84,
        "volume_24h_usd": 185456,
        "missing": false,
        "weight_pct": 1.2449898456455766
      },
      {
        "id": "goldfish-gold",
        "symbol": "GGBR",
        "name": "Goldfish Gold",
        "metal": "gold",
        "market_cap_usd": 30413219,
        "price_usd": 3.98,
        "volume_24h_usd": 183279,
        "missing": false,
        "weight_pct": 0.6128326071953962
      },
      {
        "id": "streamex-gldy",
        "symbol": "GLDY",
        "name": "Streamex GLDY",
        "metal": "gold",
        "market_cap_usd": 12229520,
        "price_usd": 3973.56,
        "volume_24h_usd": 0,
        "missing": false,
        "weight_pct": 0.24642733892615057
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      {
        "id": "uranium",
        "symbol": "XU3O8",
        "name": "Uranium³O₈",
        "metal": "uranium",
        "market_cap_usd": 8467867,
        "price_usd": 5.29,
        "volume_24h_usd": 527931,
        "missing": false,
        "weight_pct": 0.1706292586455205
      },
      {
        "id": "gold-token-sa-dgld-tokenized-gold",
        "symbol": "DGLD",
        "name": "Gold Token SA DGLD",
        "metal": "gold",
        "market_cap_usd": 6383685,
        "price_usd": 3980.63,
        "volume_24h_usd": 482.95,
        "missing": false,
        "weight_pct": 0.12863256342790097
      },
      {
        "id": "vnx-gold",
        "symbol": "VNXAU",
        "name": "VNX Gold",
        "metal": "gold",
        "market_cap_usd": 5741445,
        "price_usd": 130.19,
        "volume_24h_usd": 24770,
        "missing": false,
        "weight_pct": 0.1156912955652268
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      {
        "id": "comtech-gold",
        "symbol": "CGO",
        "name": "Comtech Gold",
        "metal": "gold",
        "market_cap_usd": 4983319,
        "price_usd": 127.78,
        "volume_24h_usd": 843896,
        "missing": false,
        "weight_pct": 0.10041490100920769
      },
      {
        "id": "matrixdock-silver",
        "symbol": "XAGM",
        "name": "Matrixdock Silver",
        "metal": "silver",
        "market_cap_usd": 3924772,
        "price_usd": 59.48,
        "volume_24h_usd": 29360,
        "missing": false,
        "weight_pct": 0.07908496162170436
      },
      {
        "id": "gold-dao",
        "symbol": "GOLDAO",
        "name": "Gold DAO",
        "metal": "gold",
        "market_cap_usd": 1997423,
        "price_usd": 0.00294469,
        "volume_24h_usd": 353.98,
        "missing": false,
        "weight_pct": 0.040248483554537584
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      {
        "id": "kinka",
        "symbol": "XNK",
        "name": "Kinka",
        "metal": "gold",
        "market_cap_usd": 1913478,
        "price_usd": 3968.88,
        "volume_24h_usd": 87331,
        "missing": false,
        "weight_pct": 0.03855697456921717
      },
      {
        "id": "gold-token",
        "symbol": "GLDT",
        "name": "Gold Token",
        "metal": "gold",
        "market_cap_usd": 676564,
        "price_usd": 1.14,
        "volume_24h_usd": 322.96,
        "missing": false,
        "weight_pct": 0.013632903509968678
      },
      {
        "id": "gold-fgld-finest-tokenized-gold",
        "symbol": "FGLD",
        "name": "fGLD",
        "metal": "gold",
        "market_cap_usd": 176832,
        "price_usd": 114.68,
        "volume_24h_usd": 114.68,
        "missing": false,
        "weight_pct": 0.0035632011065838284
      },
      {
        "id": "tenbin-gold",
        "symbol": "TGLD",
        "name": "Tenbin Gold",
        "metal": "gold",
        "market_cap_usd": 85269,
        "price_usd": 4024.31,
        "volume_24h_usd": 102.18,
        "missing": false,
        "weight_pct": 0.0017181878571598831
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    ],
    "methodology_version": "v1.4"
  },
  "index": {
    "gmri": 95.53,
    "gmri_ew": 97.71,
    "base_total_mcap": 5250675836,
    "today_total_mcap": 4962728589,
    "active_constituents": 18,
    "universe_size": 18,
    "family": {
      "live": {
        "TS-GMRI-EW": {
          "code": "TS-GMRI-EW",
          "name": "TS-GMRI Equal-Weighted",
          "n": 18,
          "value": 97.71,
          "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": 95.04,
          "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": 95.98,
          "notes": "Subset: tokens backed by physical gold."
        },
        "TS-GMRI-PRE": {
          "code": "TS-GMRI-PRE",
          "name": "TS-GMRI Precious",
          "n": 17,
          "value": 95.52,
          "notes": "Subset: gold + silver + platinum + palladium."
        },
        "TS-GMRI-AG": {
          "code": "TS-GMRI-AG",
          "name": "TS-GMRI Silver",
          "n": 2,
          "value": 86.61,
          "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": 2431620316,
        "base_price": 4188.1,
        "today_price": 3968.08,
        "return_pct": -5.268472074904695
      },
      {
        "symbol": "PAXG",
        "metal": "gold",
        "base_mcap": 1906909991,
        "today_mcap": 1794832607,
        "base_price": 4195.65,
        "today_price": 3970.09,
        "return_pct": -5.877434411113747
      },
      {
        "symbol": "KAU",
        "metal": "gold",
        "base_mcap": 306789740,
        "today_mcap": 303184662,
        "base_price": 128.57,
        "today_price": 127.06,
        "return_pct": -1.1750973158359157
      },
      {
        "symbol": "KAG",
        "metal": "silver",
        "base_mcap": 251575935,
        "today_mcap": 216025082,
        "base_price": 66.61,
        "today_price": 57.19,
        "return_pct": -14.131261402248196
      },
      {
        "symbol": "PGOLD",
        "metal": "gold",
        "base_mcap": 81230358,
        "today_mcap": 78287062,
        "base_price": 4164.58,
        "today_price": 4012.84,
        "return_pct": -3.6233941010083925
      },
      {
        "symbol": "XAUM",
        "metal": "gold",
        "base_mcap": 64218820,
        "today_mcap": 61785467,
        "base_price": 4179.21,
        "today_price": 3976.84,
        "return_pct": -3.7891586921092624
      },
      {
        "symbol": "GGBR",
        "metal": "gold",
        "base_mcap": 24140660,
        "today_mcap": 30413219,
        "base_price": 4.2,
        "today_price": 3.98,
        "return_pct": 25.983378250636058
      },
      {
        "symbol": "GLDY",
        "metal": "gold",
        "base_mcap": 12937920,
        "today_mcap": 12229520,
        "base_price": 4203.73,
        "today_price": 3973.56,
        "return_pct": -5.475377804160175
      },
      {
        "symbol": "XU3O8",
        "metal": "uranium",
        "base_mcap": 8605983,
        "today_mcap": 8467867,
        "base_price": 5.37,
        "today_price": 5.29,
        "return_pct": -1.6048834862908756
      },
      {
        "symbol": "DGLD",
        "metal": "gold",
        "base_mcap": 6703870,
        "today_mcap": 6383685,
        "base_price": 4180.29,
        "today_price": 3980.63,
        "return_pct": -4.776121852004889
      },
      {
        "symbol": "VNXAU",
        "metal": "gold",
        "base_mcap": 5953992,
        "today_mcap": 5741445,
        "base_price": 135.15,
        "today_price": 130.19,
        "return_pct": -3.56982340587626
      },
      {
        "symbol": "CGO",
        "metal": "gold",
        "base_mcap": 5275580,
        "today_mcap": 4983319,
        "base_price": 135.27,
        "today_price": 127.78,
        "return_pct": -5.539883766334697
      },
      {
        "symbol": "XAGM",
        "metal": "silver",
        "base_mcap": 4433126,
        "today_mcap": 3924772,
        "base_price": 67.18,
        "today_price": 59.48,
        "return_pct": -11.467167863038409
      },
      {
        "symbol": "GOLDAO",
        "metal": "gold",
        "base_mcap": 2037734,
        "today_mcap": 1997423,
        "base_price": 0.00300412,
        "today_price": 0.00294469,
        "return_pct": -1.978226795057647
      },
      {
        "symbol": "XNK",
        "metal": "gold",
        "base_mcap": 2026773,
        "today_mcap": 1913478,
        "base_price": 4204.92,
        "today_price": 3968.88,
        "return_pct": -5.5899205288406755
      },
      {
        "symbol": "GLDT",
        "metal": "gold",
        "base_mcap": 692969,
        "today_mcap": 676564,
        "base_price": 1.17,
        "today_price": 1.14,
        "return_pct": -2.3673497660068543
      },
      {
        "symbol": "FGLD",
        "metal": "gold",
        "base_mcap": 213180,
        "today_mcap": 176832,
        "base_price": 138.25,
        "today_price": 114.68,
        "return_pct": -17.050379960596686
      },
      {
        "symbol": "TGLD",
        "metal": "gold",
        "base_mcap": 74886,
        "today_mcap": 85269,
        "base_price": 3793.5,
        "today_price": 4024.31,
        "return_pct": 13.86507491386908
      }
    ],
    "date": "2026-06-25",
    "fetched_at": "2026-06-25T03:35:40.040Z",
    "base_date": "2026-06-22",
    "base_value": 100,
    "methodology_version": "v1.4"
  }
}