Filter. Eligible constituents that are not gold (metal ≠ gold). Published only while N ≥ 3.

Weighting. Market-cap weighted (published iff N ≥ 3).

Everything in the universe except gold — currently two silver tokens and one uranium-concentrate token. It is the diversification complement to the gold-dominated flagship.

Gold dominates tokenized metals by market cap, so a non-gold cut reveals what the rest of the category is doing. With only N = 3 it sits right at the publication floor and is sensitive to single-name moves.

Comparable in spirit to: Bloomberg Industrial Metals subindex used alongside a precious-metals benchmark.

The index is recomputed daily at 00:00 UTC from CoinGecko closing-day market caps. Let MC_i,t be the circulating market capitalisation of constituent i on day t, and MC_i,0 its value on the base date (7 June 2026, base value 100).

Both cap-weighted and equal-weighted variants are rounded to 2 decimal places for display. New constituents are chained in at the next monthly review using a continuity multiplier so the historical series is not distorted. The full rules are fixed in the methodology document below.