<![CDATA[This research examines the relationship between ESG and NON-ESG Cryptocurrencies, stocks, and gold within the context of U.S. Federal Reserve implemented quantitative easing to support economy, increasing liquidity and asset prices. In addition, The study investigates whether cryptocurrencies can function as safe-haven assets like gold during periods of monetary tightening. Using the DCC-GARCH model, the research analyzes the correlation between major cryptocurrencies, gold, and stock market ETFs across different phases of QE and QT. The findings aim to provide insights into investment strategies and alternative asset protection under monetary stress. Our results show that ESG and non‐ESG tokens share similar volatility and correlation behaviors during quantitative tightening which undermining any distinct safe‐haven edge for ESG coins. While gold consistently exhibits lower volatility and a more stable negative correlation with equities, and all asset correlations rise in QT, eroding the diversification benefits of cryptocurrencies and underscoring gold’s superior role as a refuge in tightening environments.]]>
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