Coinbase BTC-PAXG Store of Value Index Launch

Coinbase Store of Value Index Introduced

MarketVector Indexes and Coinbase Asset Management have launched a new index called Coinbase Store of Value Index that tracks Bitcoin (BTC) and tokenized gold Pax Gold (PAXG) assets. This index is designed to provide investors with exposure to assets associated with wealth preservation and functions as a benchmark combining digital assets with traditional store-of-value instruments. BTC detailed analysis can be found here.

Pax Gold tracks the price of physical gold and has a market value of approximately 2.5 billion dollars. Source: CoinMarketCap

BTC-PAXG Weighting and BTC Criticisms

BTC and PAXG are weighted according to an inverse volatility model; low-volatility assets receive higher shares. The index is rebalanced quarterly and calculated as a price return index in US dollars. MarketVector is a Europe-based regulated benchmark administrator experienced in digital asset indices. Bitcoin's store-of-value narrative has been questioned recently; the asset behaves like risky assets, showing high correlation with stocks, and was outperformed by gold in 2025.

Bitcoin has shown strong correlation with US software stocks since at least the beginning of 2024. Source: Grayscale

BTC ETF Flows and Current Technical Outlook

On April 22, 2026, Bitcoin ETFs recorded a net inflow of 335.8 million dollars in ETF flows, supporting store-of-value demand. BTC price 78.204,80 USD (+%0.43), RSI 65.24 (neutral), uptrend but Supertrend bearish. EMA 20: 74.102 USD.

• Supports: S1 74.400 USD (strong, %77), S2 60.000 USD
• Resistances: R1 79.074 USD (strong, %84), R2 83.437 USD

BTC futures can be accessed by clicking here.