HANetf debuts what it calls world's first euro-hedged bitcoin fund

HANetf launched the Arrow Bitcoin EUR Hedged ETF, an exchange-traded commodity it describes as the world's first euro-hedged bitcoin product. The product gives European investors exposure to bitcoin while aiming to reduce the impact of euro-dollar movements. HSBC will provide its currency hedging. Bitcoin is priced in US dollars, so European investors in unhedged products are exposed to both bitcoin price changes and dollar movements against the euro. Euro-hedged funds typically use forward contracts to sell dollars for euros at a fixed rate on a future date. Coinglass puts the combined assets of US bitcoin ETFs at $111.1 billion.