This study investigates the static and dynamic return and volatility spillovers between non-fungible tokens (NFTs) and … portfolios by adding NFTs. We also fnd that NFTs are net transmitters of both return and volatility spillovers; however, in the … case of return spillovers, the infuence of NFTs on conventional currencies is more pronounced than that of volatility shock …

spillover between cryptocurrencies and volatility indices for the major traditional markets varies substantially across … influence over the volatility indices. Our results have important policy implications for enhancing financial stability and … deliver valuable insights for deploying volatility-based financial instruments that can potentially provide cryptocurrency …