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Bitcoin is trading at a strong correlation with gold over the past five days as traditional investors jump into crypto, according to a new report.

New research from Excalibur Pro Inc. shows Bitcoin trading at a 0.84 correlation with gold, as reported by the Wall Street Journal.

In addition, a second strong Bitcoin correlation is emerging as the stock market struggles. Bitcoin has traded at a 0.77 correlation to the Chicago Board of Options Exchange’s Volatility index (VIX) in recent days. The index measures short-term S&P 500 options prices and is used to gauge how fearful investors are about the market.

The Journal points to an influx of money coming into crypto investment firm Grayscale as a prime example of new money entering the space.

Grayscale says its Bitcoin Investment Trust has grown from $51 million in assets under management back in 2013 to $3.5 billion at the height of the crypto bull run, and now stands at about $759 million.

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Grayscale’s second-largest product is its Ethereum Classic Investment Trust at $25.8 million. Its third largest trust is Zcash at $7.9 million. Its Ethereum trust ranks fourth among its products at $5.8 million.

The report also cites increasing venture capital investments in the crypto space as a sign of the market’s increasing maturity. In 2013, the total amount of venture capital in Bitcoin and blockchain was about $96 million – a number that grew to more than $2 billion in 2017.