MarketVector Indexes and Coinbase Asset Management have launched a new index tracking Bitcoin and tokenized gold, providing investors with exposure to assets commonly associated with wealth preservation.
The companies on Thursday announced 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 that combines digital assets and traditional stores of value.
Bitcoin and gold are weighted using an inverse volatility model, with assets with lower volatility receiving more allocation.
The benchmark is rebalanced quarterly and calculated as a price-earnings index in USD.
MarketVector is a European-based regulated benchmark management company with experience in traditional index creation, but has also expanded into digital assets through products such as the MarketVector Digital Assets 100 Index and the Coinbase 50 Index.
Related: 2026 Investment Strategy for Cryptocurrency: Bitcoin, Stablecoin Infrastructure, and Tokenized Assets
Bitcoin’s store of value story faces new scrutiny
Market Vectors and Coinbase said the index reflects the evolving definition of “store of value,” which extends beyond gold to include: $BTC.
Bitcoin has long been seen as a potential store of value, backed by its strong long-term performance compared to traditional assets and its perceived hedge against inflation.
However, this narrative has come under pressure over the past year as Bitcoin has sometimes traded like a risk asset, often trading alongside stocks, especially in the technology sector.
This move was highlighted in a February study by Grayscale Investments, which found that Bitcoin is functioning more as a growth stock than a traditional store of value amidst continued macroeconomic and geopolitical uncertainty.
Investors also point out that gold will outperform the largest digital asset in 2025, with Bitcoin’s returns declining. After peaking above $69,000 in 2021, Bitcoin peaked in the next cycle last October at around $126,000, which was less than double its previous high.
Related: Digital gold or tech stocks? Bitcoin’s identity crisis deepens
