On Friday, investment management firm Van Eck released new research suggesting that Bitcoin’s price movements are less volatile than between a quarter and a third of the stocks 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 an “emerging and volatile asset outside of traditional stock and capital markets,” the reality shows that the world’s largest cryptocurrency trades with volatility comparable to some of the largest company in the world.
On an annualized basis, 29% of S&P 500 stocks saw more volatile price movements than the digital currency, while 22% did so on a 90-day basis, Van Eck said.
The research is noteworthy as Van Eck’s Eck flagship offerings are largely grouped into an asset class that has long been seen as a competitor to Bitcoin: gold.
The majority of Van Eck’s assets under management of nearly $ 50 billion are in gold funds. The company founded both the first gold stock fund (INIVX) in 1968 and the first – now extremely popular – gold mining ETF (GDX) in 2006.
Despite her emphasis on gold bars, Van Eck was never shy of exploring Bitcoin. The company is currently offering an exchange-traded bitcoin product to institutional investors and has previously submitted applications to the SEC to offer a bitcoin ETF.
The company recently released a report suggesting that institutional investors should have Bitcoin on their books.
Given the regulatory hurdles Van Eck encountered with his last Bitcoin ETF firm, this latest investigation could potentially be more aimed at allaying SEC fears than those of investors who so far have had a remarkable appetite for BTC-backed securities have shown.