On September 29, 2026, ETF and ETC issuer HANetf launched the Arrow Bitcoin EUR Hedged ETC under the ticker EBTC on Euronext Paris. The product is designed to offer investors exposure to Bitcoin while reducing the impact of EUR/USD currency movements on their returns.
HANetf describes EBTC as the first euro-hedged Bitcoin exchange-traded product, citing ETFBook data through July 31. The listing gives eligible euro-based investors a more explicit choice: either retain the dollar's influence embedded in Bitcoin's US-dollar benchmark price or seek to reduce that currency effect.
Because Bitcoin is commonly priced in US dollars, a euro investor may carry both Bitcoin price risk and EUR/USD exposure. In simplified examples, a 10% Bitcoin gain combined with a 6% decline in the dollar versus the euro would reduce the unhedged euro return to roughly 3.4%, while a fully hedged position would remain closer to the 10% Bitcoin gain before costs. Conversely, if the dollar strengthens, an unhedged holder may capture a larger euro return, but a hedged product would reduce that favorable currency contribution.
The Wall Street Journal reported that HSBC provides the currency hedge for EBTC. The hedge addresses EUR/USD movements only; it does not reduce Bitcoin's own volatility, trading spreads, fees, tax, issuer risk or tracking differences. Investors should review the official documents, including the KID, final terms and prospectus, and check total costs, hedging method, counterparty exposure, liquidity and custody arrangements before investing.
The launch reflects continued expansion of regulated crypto investment products in Europe, although trading history and broad demand for the product remain to be established.
