On Friday, investment management firm Van Eck released new research indicating that Bitcoin price movements are less volatile than between a quarter and a third of the shares listed on the S&P 500.
In a blog post, the German issuer of exchange-traded products said that while Bitcoin has long been considered a “nascent and volatile asset outside traditional stock and capital markets”, reality shows that the world’s largest cryptocurrency trades with volatility comparable to that of some of the largest companies in the world.
Year-to-date, 29% of S&P 500 shares experienced more volatile price fluctuations than the digital currency, while 22% did the same in 90 days, Van Eck said.
The research is remarkable, given that Van Eck’s flagship offers are largely expressed in an asset class long considered to be a competitor to Bitcoin: gold.
Of the nearly $ 50 billion in assets under Van Eck’s management, most are related to gold funds, and the company founded the first gold stock fund in 1968 (INIVX) and the first – now extremely popular – mining ETF. of gold in 2006 (GDX).
Despite its emphasis on gold, Van Eck was never ashamed to explore Bitcoin, however. The company currently offers an exchange-traded Bitcoin product to institutional investors and has already submitted requests to the SEC to offer a Bitcoin ETF.
The company also recently released a report arguing that institutional investors should consider having Bitcoin in their portfolios.
Perhaps, given the regulatory hurdles that Van Eck has encountered during its latest ETF Bitcoin venture, this latest survey may aim more to appease the SEC’s fears than those of investors, who have so far demonstrated a notable appetite for securities backed by BTC.