HANetf launches world’s first euro-hedged Bitcoin ETP in Europe

European investors who want Bitcoin exposure but don’t want to bet on the dollar at the same time just got a new option. HANetf has listed what it calls the world’s first euro-hedged Bitcoin exchange-traded commodity, trading under the ticker EBTC on both Euronext Paris and Xetra. The product, formally named the Arrow Bitcoin EUR Hedged ETC, began trading on Euronext Paris on September 29 and on Xetra the following day. It carries a total expense ratio of 49 basis points plus a small daily FX hedging cost, and it uses HSBC to handle the currency hedging that strips out EUR/USD volatility. Why currency hedging matters for Bitcoin Bitcoin is priced in dollars. When a euro-based investor buys a standard Bitcoin ETP, they’re effectively making two bets: one on Bitcoin’s price and one on the dollar strengthening (or at least not weakening) against the euro. The Arrow Bitcoin EUR Hedged ETC aims to isolate the Bitcoin trade. By rolling forward FX hedges daily through HSBC, the product neutralizes the EUR/USD swing so that returns track Bitcoin’s dollar price as closely as possible, translated into euros without the exchange rate distortion. A market that’s been waiting for this Euro-hedg...