[JPMorgan Chase Expects Bitcoin to Return 10% Annually, Higher Than Other Asset Classes] Odaily Planet Daily reports that Zach Pandl, Head of Research at Grayscale, stated that JPMorgan Asset Management has included Bitcoin in its long-term investment assumptions for 2027, projecting a compound annual return of 10%, higher than other asset classes; Bitcoin's estimated correlation with US large-cap stocks is 33%. JPMorgan Chase projects Bitcoin's annualized volatility at 55% and excludes it from its main portfolio model due to its unstable correlation with other assets. Its long-term assumptions also include a 7.5% return for US large-cap stocks, 9.8% for private equity, a 60/40 stock/bond portfolio return of 7%, and 5.5% for gold. JPMorgan Chase describes Bitcoin's investment characteristics as a speculative asset, noting that its portfolio allocation effect is related to monetary easing; adoption, regulation, and liquidity all influence its economic characteristics. Grayscale states that portfolio returns depend on future returns and changes in inter-asset relationships. (Bitcoin.com News)