HANetf Launches First Bitcoin Fund with Euro Hedging

A new Bitcoin exchange-traded fund has launched in Europe, featuring a currency hedging component.

HANetf, a $9.2 billion ETF provider, has introduced the Arrow Bitcoin EUR Hedged ETF. The fund offers European investors exposure to bitcoin while lessening the effect of euro-to-dollar exchange rate fluctuations.

Bitcoin is priced in U.S. dollars, so European buyers of an unhedged product face dual exposure: the bitcoin price itself and the dollar's performance against the euro.

JUST IN: $9.2 billion ETF provider HANetf launches the first ever euro-hedged Bitcoin exchange traded commodity pic.twitter.com/Bg5tFJ2yAj

— Bitcoin Magazine (@BitcoinMagazine) September 29, 2026

This exchange-traded commodity, a fund granting investors commodity exposure, is designed to eliminate the second of those factors. HANetf calls it the first such product globally.

"With this launch, we are bringing the established logic of euro-hedged ETFs to the crypto market," Hector McNeil, co-founder and co-CEO of HANetf, said in a statement. "Investors have long understood that currency movements can have a meaningful impact on returns on different asset classes, for example gold."

"Similar to gold, bitcoin is priced in US dollars, meaning European investors can end up taking two views at once: a view on bitcoin itself and a view on the dollar.

HSBC is handling the currency hedging for the fund. Euro-hedged funds typically operate by a bank entering forward contracts to sell an equivalent dollar amount for euros at a predetermined rate at a future date.

If the dollar weakens versus the euro, the decline in bitcoin's euro value is offset by a forward contract gain, and the reverse also applies. These contracts are ordinarily renewed monthly, with the hedge adjusted at renewal.

U.S. bitcoin ETFs have seen substantial success since the Securities and Exchange Commission approved them in 2024.

Managed by firms including BlackRock, Fidelity, and Morgan Stanley, these products let investors buy shares tracking the bitcoin price without needing to store the cryptocurrency themselves.

According to Coinglass, the funds now oversee a combined $111.1 billion in assets, marking the most successful ETF launch in history.