Why would the formula for the realized volatility estimate of Bitcoin be slightly different than the formula for the realized volatility estimate of a US stock or exchange traded futures?

Group of answer choices

There wouldn't be any difference in applying the formula.

Because Bitcoin is far more volatile, the realized vol formula must be adjusted for Bitcoin tail-risk.

Bitcoin trades 24/7/365, whereas stock's and exchange traded futures only trade M-F when markets are open.

None of the above.