While bitcoin’s price is stuck lately, there is one good thing to come from it for investors betting on crypto to become a legitimate asset class: It’s less of a wild ride.

After hovering in the $19,000 level for more than a month, bitcoin’s volatility is now lower than that of both the Nasdaq and S&P 500, according to Kaiko.

The data provider said Friday that the cryptocurrency’s 20-day rolling volatility has now fallen below that of the stock indexes for the first time since 2020. On Monday it had fallen enough just to match the Nasdaq’s volatility. That’s welcome news to many longtime crypto investors who hope that a mellowing of crypto’s notorious price swings could bring less fear to potential new investors.

Kaiko also said the gap between bitcoin’s and equities’ 30-day and 90-day volatilities has been shrinking since the middle of September, even with bitcoin’s heightened sensitivity to macroeconomic data releases. (Though bitcoin’s correlation with stocks has eased, it remains high and its price continues to be driven by macro themes.)

“Bitcoin volatility is at multi-year lows while equity volatility is only at its lowest level since July,” Clara Medalie, head of research at Kaiko, told CNBC. “Equity markets have certainly been volatile over the past few months due to high inflation, an…