On Friday, asset manager Van Eck released new research showing that Bitcoin 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 a “ nascent and volatile asset outside of the traditional stock and capital markets, ” the reality shows that the world’s largest cryptocurrency is trading with a volatility comparable to is with those of some of the largest companies in the world.

On a year-to-date basis, 29% of S&P 500 stocks experienced more volatile price movements than the digital currency, while 22% did the same on a 90-day basis, Van Eck said.

The research is notable given that Van Eck’s flagship offering is largely housed in an asset class that has long been considered a competitor to Bitcoin: gold.

Of Van Eck’s nearly $ 50 billion in assets under management, the majority is in gold funds, and the company founded both the first gold stock fund in 1968 (INIVX) and the first – now wildly popular – gold digger ETF in 2006 (GDX).

However, despite their emphasis on precious metal, Van Eck has never been shy about exploring Bitcoin. Company currently offers an exchange-traded Bitcoin product to institutional investors, and has previously shipped filing with the SEC to offer a Bitcoin ETF.

The company also recently released a report arguing that institutional investors should consider Having Bitcoin on their books.

Given the regulatory hurdles Van Eck faced during their latest Bitcoin ETF venture, this latest investigation could perhaps be more focused on allay SEC fears than those of investors, who have so far showed a remarkable interest in BTC-backed securities.