MarketVector Indexes and Coinbase Asset Management have launched a new index tracking Bitcoin and tokenized gold. The Coinbase Store of Value Index will monitor Bitcoin (BTC) and Pax Gold (PAXG), a leading gold-backed token.
The index utilizes an inverse volatility model, allocating more weight to less volatile assets. It is rebalanced quarterly and calculated in US dollars.
This initiative underscores a shifting perception of "store of value," now encompassing digital assets alongside traditional ones like gold. While Bitcoin has historically been viewed as an inflation hedge, its correlation with equities has led to renewed scrutiny of its store-of-value narrative.
Recent analyses suggest Bitcoin has traded more like a growth stock, with gold outperforming BTC in 2025. The new index aims to benchmark this evolving landscape of wealth preservation assets.