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50-year study of the US market and 20 years of foreign market data informs components of market value.
NEW YORK, Feb. 12, 2026 /PRNewswire/ -- Global consulting firm J.S. Held announces the release of the Ocean Tomo Intangible Asset Market Value (IAMV) study. With this release, the study now reflects a panel of 50 years of data in the US market and 20 years of data in foreign markets.
The study examines the components of market value, specifically the role of intangible assets, across a range of global indexes. IAMV is shown as of calendar year end by subtracting net tangible asset value from market capitalization.
Commenting on the Components of S&P 500® Market Value, economic expert and study author Matthew Johnson observes, "the composition of corporate value has undergone a fundamental transformation over the past five decades." In 1975, tangible assets—property, plant, equipment, inventory, and other physical capital—represented 83% of the market value of companies comprising the S&P 500 index, with intangible assets accounting for only 17%. By the end of 2025, this relationship had completely inverted: intangible assets now constitute approximately 92% of S&P 500 market capitalization, while tangible assets have been reduced to a mere 8%. Johnson adds, "This 75 percentage point shift represents what Ocean Tomo has defined as 'economic inversion'— a wholesale transformation in the nature of value creation whereby economic worth has migrated from what can be 'touched' to what can be 'thought'."
The magnitude and implications of this transformation are comparable to the Industrial Revolution of the 18th and 19th centuries. Just as the Industrial Revolution fundamentally restructured economic activity from agrarian and craft-based production to mechanized manufacturing, the intangible revolution has redefined the sources and measurement of corporate value in the 21st century. Ocean Tomo Co-founder and J.S. Held Chief Intellectual Property Officer, James E. Malackowski observes, "While the Industrial Revolution required a century to unfold fully, the intangible revolution has occurred within a single human lifespan, with particularly rapid acceleration occurring in the 1985-2005 period when intangible asset market value increased from 32% to 79%—a remarkable 47 percentage point surge in just two decades."
The 2020-2025 period deserves special attention: S&P 500 IAMV remained stable at approximately 90% despite the Federal Reserve implementing the most aggressive monetary tightening cycle in four decades. Dr. Nikki Tavasoli, PhD, shares, "Traditional financial theory predicts that intangible-intensive firms should be highly sensitive to interest rate changes due to their long-duration cash flows and limited collateral value." She adds, "The observed stability challenges this prediction and requires explanation, which we address in a forthcoming paper."
In 2005, the IAMV study was expanded beyond the S&P 500 to explore the components of value in several key international markets. Stock market indexes from Europe, China, Japan, and South Korea were selected and analyzed to determine the comparable role of intangible assets.
To learn more about the 2025 Intangible Asset Market Value Study, download the report, visit: https://oceantomo.com/intangible-asset-market-value-study/.
Ocean Tomo's unique understanding of intellectual property (IP) value is driven by the firm's engagement across all matters involving intangible assets, spanning strategic planning, investments, disputes, and transactions. Litigation outcomes refine valuation methodologies, while advisory engagements are shaped by real-world insights from both the boardroom and public markets. Transaction outcomes—buying, selling, and licensing IP—validates strategic decisions and informs how IP is valued in practice. Ocean Tomo valuations used by IP owners to access capital provides insight on how financial institutions recognize IP as a bankable asset. This continuous feedback strengthens the team's ability to deliver credible, actionable insights across all matters involving intangible assets.
About J.S. Held
J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.
More than 1,500 professionals serve organizations across six continents, including 84% of the Global 200 Law Firms, 75% of the Forbes Top 20 Insurance Companies (90% of the NAIC Top 50 Property & Casualty Insurers), and 71% of Fortune 100 Companies.
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held is not a law firm and does not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB or Ocean Tomo Investments, a part of J.S. Held, member FINRA/SIPC. All rights reserved.
Media Contact
Kristi L. Stathis, J.S. Held, +1 786 833 4864, Kristi.Stathis@JSHeld.com, JSHeld.com
50-year study of the US market and 20 years of foreign market data informs components of market value.
NEW YORK, Feb. 12, 2026 /PRNewswire/ -- Global consulting firm J.S. Held announces the release of the Ocean Tomo Intangible Asset Market Value (IAMV) study. With this release, the study now reflects a panel of 50 years of data in the US market and 20 years of data in foreign markets.
The study examines the components of market value, specifically the role of intangible assets, across a range of global indexes. IAMV is shown as of calendar year end by subtracting net tangible asset value from market capitalization.
Commenting on the Components of S&P 500® Market Value, economic expert and study author Matthew Johnson observes, "the composition of corporate value has undergone a fundamental transformation over the past five decades." In 1975, tangible assets—property, plant, equipment, inventory, and other physical capital—represented 83% of the market value of companies comprising the S&P 500 index, with intangible assets accounting for only 17%. By the end of 2025, this relationship had completely inverted: intangible assets now constitute approximately 92% of S&P 500 market capitalization, while tangible assets have been reduced to a mere 8%. Johnson adds, "This 75 percentage point shift represents what Ocean Tomo has defined as 'economic inversion'— a wholesale transformation in the nature of value creation whereby economic worth has migrated from what can be 'touched' to what can be 'thought'."
The magnitude and implications of this transformation are comparable to the Industrial Revolution of the 18th and 19th centuries. Just as the Industrial Revolution fundamentally restructured economic activity from agrarian and craft-based production to mechanized manufacturing, the intangible revolution has redefined the sources and measurement of corporate value in the 21st century. Ocean Tomo Co-founder and J.S. Held Chief Intellectual Property Officer, James E. Malackowski observes, "While the Industrial Revolution required a century to unfold fully, the intangible revolution has occurred within a single human lifespan, with particularly rapid acceleration occurring in the 1985-2005 period when intangible asset market value increased from 32% to 79%—a remarkable 47 percentage point surge in just two decades."
The 2020-2025 period deserves special attention: S&P 500 IAMV remained stable at approximately 90% despite the Federal Reserve implementing the most aggressive monetary tightening cycle in four decades. Dr. Nikki Tavasoli, PhD, shares, "Traditional financial theory predicts that intangible-intensive firms should be highly sensitive to interest rate changes due to their long-duration cash flows and limited collateral value." She adds, "The observed stability challenges this prediction and requires explanation, which we address in a forthcoming paper."
In 2005, the IAMV study was expanded beyond the S&P 500 to explore the components of value in several key international markets. Stock market indexes from Europe, China, Japan, and South Korea were selected and analyzed to determine the comparable role of intangible assets.
To learn more about the 2025 Intangible Asset Market Value Study, download the report, visit: https://oceantomo.com/intangible-asset-market-value-study/.
Ocean Tomo's unique understanding of intellectual property (IP) value is driven by the firm's engagement across all matters involving intangible assets, spanning strategic planning, investments, disputes, and transactions. Litigation outcomes refine valuation methodologies, while advisory engagements are shaped by real-world insights from both the boardroom and public markets. Transaction outcomes—buying, selling, and licensing IP—validates strategic decisions and informs how IP is valued in practice. Ocean Tomo valuations used by IP owners to access capital provides insight on how financial institutions recognize IP as a bankable asset. This continuous feedback strengthens the team's ability to deliver credible, actionable insights across all matters involving intangible assets.
About J.S. Held
J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets. The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.
More than 1,500 professionals serve organizations across six continents, including 84% of the Global 200 Law Firms, 75% of the Forbes Top 20 Insurance Companies (90% of the NAIC Top 50 Property & Casualty Insurers), and 71% of Fortune 100 Companies.
J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held is not a law firm and does not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB or Ocean Tomo Investments, a part of J.S. Held, member FINRA/SIPC. All rights reserved.
Media Contact
Kristi L. Stathis, J.S. Held, +1 786 833 4864, Kristi.Stathis@JSHeld.com, JSHeld.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Ocean Tomo Releases 2025 Intangible Asset Market Value Study Results
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PANAMA CITY, May 19, 2026 /PRNewswire/ -- BingX, a leading cryptocurrency exchange and Web3-AI company, today launched OpenAI pre-IPO airdrop campaign on its platform, expanding user access to private-market exposure tied to one of the world's most prominent artificial intelligence companies. The campaign marks BingX as the first exchange to offer an OpenAI pre-IPO airdrop, and follows the platform's earlier rollout of SpaceX pre-IPO trading, which received strong market engagement from users.
From May 19 to May 28 (UTC+8), the airdrop campaign featured a total prize pool of more than 300,000 USDT. Eligible users can participate in a variety of trading events to claim airdrop rewards, with bonuses available for active traders, first-time users, and BingX VIP members.
The launch reflects increasing investor demand for access to high-growth private-market opportunities that have traditionally remained inaccessible to retail participants in the crypto space. By enabling pre-IPO trading and tokenization tied to globally recognized technology firms, BingX aims to lower barriers to participation while broadening its range of alternative investment offerings.
"Through the OpenAI pre-IPO airdrop campaign, we want to give users more direct opportunities to participate in one of the market's most closely watched AI growth stories." said Pablo Monti, Spokesperson of BingX. "By combining pre-IPO exposure with a large-scale airdrop incentive program, we're lowering barriers to participation and creating added value for both new and existing users. This campaign reflects our broader commitment to making high-profile investment opportunities more accessible, engaging, and rewarding for our global community."
About BingX
Founded in 2018, BingX is a leading crypto exchange and Web3-AI company, serving over 40 million users worldwide. Ranked among the top five global crypto derivatives exchanges and a pioneer of crypto copy trading, BingX addresses the evolving needs of users across all experience levels.
Powered by a comprehensive suite of AI-driven products and services, including futures, spot, copy trading, and TradFi offerings, BingX empowers users with innovative tools designed to enhance performance, confidence, and efficiency.
BingX has been the principal partner of Chelsea FC since 2024, and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.
For more information, please visit: https://bingx.com/
PANAMA CITY, May 19, 2026 /PRNewswire/ -- BingX, a leading cryptocurrency exchange and Web3-AI company, today launched OpenAI pre-IPO airdrop campaign on its platform, expanding user access to private-market exposure tied to one of the world's most prominent artificial intelligence companies. The campaign marks BingX as the first exchange to offer an OpenAI pre-IPO airdrop, and follows the platform's earlier rollout of SpaceX pre-IPO trading, which received strong market engagement from users.
From May 19 to May 28 (UTC+8), the airdrop campaign featured a total prize pool of more than 300,000 USDT. Eligible users can participate in a variety of trading events to claim airdrop rewards, with bonuses available for active traders, first-time users, and BingX VIP members.
The launch reflects increasing investor demand for access to high-growth private-market opportunities that have traditionally remained inaccessible to retail participants in the crypto space. By enabling pre-IPO trading and tokenization tied to globally recognized technology firms, BingX aims to lower barriers to participation while broadening its range of alternative investment offerings.
"Through the OpenAI pre-IPO airdrop campaign, we want to give users more direct opportunities to participate in one of the market's most closely watched AI growth stories." said Pablo Monti, Spokesperson of BingX. "By combining pre-IPO exposure with a large-scale airdrop incentive program, we're lowering barriers to participation and creating added value for both new and existing users. This campaign reflects our broader commitment to making high-profile investment opportunities more accessible, engaging, and rewarding for our global community."
About BingX
Founded in 2018, BingX is a leading crypto exchange and Web3-AI company, serving over 40 million users worldwide. Ranked among the top five global crypto derivatives exchanges and a pioneer of crypto copy trading, BingX addresses the evolving needs of users across all experience levels.
Powered by a comprehensive suite of AI-driven products and services, including futures, spot, copy trading, and TradFi offerings, BingX empowers users with innovative tools designed to enhance performance, confidence, and efficiency.
BingX has been the principal partner of Chelsea FC since 2024, and became the first official crypto exchange partner of Scuderia Ferrari HP in 2026.
For more information, please visit: https://bingx.com/
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
BingX Becomes First Exchange to Offer OpenAI Pre-IPO Airdrop
