Coinbase BTC-PAXG Store of Value Index Launch

MarketVector Indexes and Coinbase Asset Management launched the Coinbase Store of Value Index, a USD price-return benchmark that combines Bitcoin (BTC) and tokenized gold (PAXG) using an inverse-volatility weighting and quarterly rebalances. The index aims to give investors a blended store-of-value exposure, potentially redirecting allocation flows toward combined digital/traditional assets. Recent supportive demand is noted — Bitcoin ETFs logged a $335.8m net inflow on April 22, 2026 — but the article flags skepticism about BTC’s store-of-value role, citing high correlation with US software stocks and gold’s outperformance in 2025. Technicals are mixed: BTC at ~$77.8k, an uptrend and neutral-to-firm RSI (61–65) but a Supertrend reading that is bearish; key support/resistance levels are highlighted. Overall, the launch may boost institutional benchmarking and investor choice, yet market impact could be muted by doubts over BTC’s risk-profile and mixed technical signals.