HANetf launches first euro-hedged Bitcoin ETP in Europe

HANetf has launched the Arrow Bitcoin EUR Hedged ETC (ticker: EBTC), described as the world’s first euro-hedged Bitcoin exchange-traded commodity. The product began trading on Euronext Paris on September 29 and on Xetra the following day.

Because Bitcoin is primarily priced in US dollars, euro-based investors typically face dual exposure to both Bitcoin price volatility and EUR/USD exchange rate fluctuations. This new ETP aims to isolate the Bitcoin trade by using HSBC to roll forward daily FX hedges, neutralizing the impact of the dollar's strength or weakness against the euro.

The product carries a total expense ratio of 49 basis points, plus a small daily FX hedging cost. The launch addresses a gap in the European crypto market, where total assets in crypto ETCs sit at approximately $12 billion, compared to roughly $23 billion in hedged gold ETCs.