Bitcoin ETFs may finally be evolving into the asset institutional investors wanted all along — not a high-beta tech trade, but a gold-like portfolio diversifier.

IBIT’s 60-day historical volatility has fallen from peaks above 66 to nearly 34, while GLD’s volatility has climbed from around 10 to above 27 during the same period. The convergence suggests Bitcoin may be maturing from a speculative momentum trade into a more stable macro asset.

Why Wall Street May Love A Less Volatile Bitcoin

For years, critics argued Bitcoin traded more like a leveraged Nasdaq bet than a safe-haven asset. During periods of monetary tightening, Bitcoin often moved in tandem with high-growth technology stocks,…

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