MarketVector Indexes and Coinbase Asset Management have launched a modern index tracking Bitcoin and tokenized gold, offering investors exposure to assets commonly associated with wealth preservation.
On Thursday, the companies unveiled the Coinbase Store of Value Index, which tracks Bitcoin (BTC) and Pax Gold (PAXG), one of the largest gold-backed tokens. The index is designed as a benchmark connecting digital assets with established instruments that store value.
Bitcoin and gold are weighted using an inverse volatility model, meaning lower volatility assets receive a higher allocation.
The notional value is rebalanced quarterly and calculated as a price-to-return ratio in US dollars.
MarketVector is a regulated benchmark administrator based in Europe with expertise in established indexing, although it has expanded into digital assets with products such as the MarketVector Digital Assets 100 Index and the Coinbase 50 Index.
Related: Crypto Investment Guide 2026: Bitcoin, Stablecoin Infrastructure, Tokenized Assets
Bitcoin’s store of value narrative is being re-examined
MarketVector and Coinbase said the index reflects an evolving definition of a “store of value” that goes beyond gold to include BTC.
Bitcoin has long been seen as a potential store of value, backed by its sturdy long-term performance compared to established assets and its perceived hedge against inflation.
However, this narrative has come under pressure over the past year as Bitcoin has at times traded more like a risky asset – often moving in lockstep with stocks, particularly in the technology sector.
This energetic was highlighted in a February study by Grayscale Investments, which found that Bitcoin performed more like a growth stock than a established store of value in the face of ongoing macroeconomic and geopolitical uncertainty.
Investors have also taken note of sinking returns for Bitcoin, with gold outperforming the largest digital asset in 2025. After peaking above $69,000 in 2021, Bitcoin’s next cycle peaked around $126,000 last October – a price less than twice the previous high.
Related: Digital gold or tech stocks? Bitcoin’s identity crisis is deepening
