BlackRock’s ETF Chief Says Bitcoin’s Diversifier Case Still Holds as Volatility Cools

BlackRock says Bitcoin's volatility has cooled, but its 0.53 S&P 500 correlation and history of deep drawdowns limit the case for a small allocation. The asset manager's ETF chief reaffirmed that Bitcoin's diversifier case still holds despite reduced price swings, though the correlation and drawdown risks temper enthusiasm for adding it to portfolios.