Volatility converges to gold, but IBIT excess returns double, the narrative switch is a bit quick.

IBIT-2.14%
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Bloomberg Analyst: Bitcoin's volatility structure is gradually aligning with gold, and its asset characteristics may change
Bloomberg senior ETF analyst Balchunas pointed out that Bitcoin's volatility and correlation are gradually approaching gold levels.
This signal is underestimated during the current market correction, which may indicate a change in asset characteristics.
Looking at the 60-day volatility comparison between IBIT and GLD, Bitcoin's volatility structure is aligning more with gold.
Balchunas also stated that despite market volatility, IBIT has outperformed US stocks since the escalation of the Iran conflict, and since its approval, it has generated more than twice the excess returns of SPY.
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