What it tracks
Filter. Constituents backed by steel products (steel rebar, hot-rolled coil, billet, stainless steel).
Weighting. Market-cap weighted.
A registered methodology slot for finished-steel products. No live retail tokenization exists at the base date, so no value is published yet.
Steel is the most produced metal globally; the slot secures prior art over the steel definition ahead of retail tokenization.
Comparable in spirit to: CME HRC steel futures and Platts steel price assessments.
Constituents
0 / N ≥ 3Awaiting tokens meeting eligibility (Section 3 of the methodology: physical-metal backing, on-chain claim, issuer transparency, ≥ USD 1M market cap, public price feed, no double-counting). Currently 0 eligible constituents.
The rules are fixed and the slot is registered for prior art. No value is published and no constituents are listed until the threshold is met — we do not invent numbers from sparse data.
Publication threshold: N ≥ 3Computation
The index is recomputed daily at 00:00 UTC from CoinGecko closing-day market caps. Let MCi,t be the circulating market capitalisation of constituent i on day t, and MCi,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.
Methodology & provenance
Canonical methodology
This member is governed by the locked TS-GMRI Methodology v1.0 — the single source of truth for the family's universe, filters, weighting and rebalancing rules.
Immutable source documents
Methodology PDF (v1.0)
Methodology source (.md, immutable)
OpenTimestamps proof (.ots)
SHA-256 of methodology v1.0
Timestamped via OpenTimestamps on the Bitcoin blockchain (proof pending Bitcoin confirmation).
Prior art
The TS-GMRI family (legacy mark “GMRI”) was first published on 7 June 2026 as the first publicly published market index dedicated to tokenized physical metals. Authorship: Andrey Kuznetsov, Hong Kong.
The TS-GMRI family
17 members · 6 live · 11 slotsOne coherent taxonomy: shared universe, shared base date 7 June 2026 = 100, shared data-discipline. Members differ only in filter and weighting. See the full family hub ›
Disclaimers & notices
- Information product, not investment advice. TS-GMRI-STL is a proprietary index published by TrueSource Metals for informational purposes. Nothing here is a recommendation to buy, sell or hold any token or instrument.
- Liquidity caveats. Liquidity in the underlying tokens is uneven; cap-weighted values are sensitive to large moves in the dominant tokens (e.g. XAUT and PAXG). Small-N cuts can swing on single-name moves.
- Short history. The series is live since 7 June 2026 — only a handful of days of history exist. Volatility, drawdown and risk statistics are not yet statistically meaningful and are deliberately omitted.
- Unaudited. The index is unaudited at v1.0; an independent attestation is planned once 12 months of stable computation are available.
- Trademark notice. TS-GMRI™, GMRI™, and Global Metals RWA Index™ are trademarks of TrueSource Metals. Methodology © 2026 TrueSource Metals.