TechFlow News, May 29: Eric Balchunas, Senior ETF Analyst at Bloomberg, posted on X stating that Bitcoin’s volatility and correlation are increasingly converging toward gold levels—a trend currently underappreciated amid the ongoing market correction and potentially a positive signal amid recent market turbulence. Despite significant market volatility, BlackRock’s spot Bitcoin ETF (IBIT) has continued to outperform U.S. equities since the escalation of the Iran conflict. Since its approval, IBIT has delivered over twice the excess return relative to the S&P 500 ETF (SPY).
Balchunas added that comparing the 60-day historical volatility of IBIT versus the gold ETF (GLD) since their respective launches reveals Bitcoin’s volatility structure is gradually aligning with gold’s—suggesting a possible evolution in its asset characteristics.
