European investors have a new way to gain exposure to bitcoin while reducing the effect of movements between the U.S. dollar and their domestic currency. London-based asset management platform HANetf has listed two exchange-traded commodities designed to track bitcoin exposure with hedges for sterling and the euro.
The products are aimed at investors who want to hold bitcoin over the long term but are concerned that a decline in the U.S. dollar could reduce returns when measured in pounds or euros. According to CoinDesk, HSBC is providing the currency hedges for both products.
Two listings for two currencies
HANetf’s Arrow Bitcoin GBP Hedged ETC, trading under the ticker GBTC, is listed on the London Stock Exchange. Its euro-hedged counterpart, EBTC, is available on Frankfurt-based Xetra and Euronext Paris.
The company describes the products as the world’s first currency-hedged cryptocurrency exchange-traded commodities. Their structure is intended to limit the impact of changes in the value of sterling or the euro against the U.S. dollar while retaining exposure to bitcoin’s price.
Bitcoin, like gold and many other internationally traded assets, is generally quoted in U.S. dollars. That means an investor buying an unhedged bitcoin product in Europe is exposed to two moving parts: the performance of bitcoin itself and the exchange rate between the dollar and the investor’s home currency.
A currency hedge is designed to reduce the second exposure. It does not remove the risks associated with bitcoin’s price, and the products remain an investment linked to a single digital asset. Instead, the hedge focuses on the currency conversion that can affect the value of the investment for pound- or euro-based investors.
Why ETCs are used in Europe
The listings are ETCs rather than ETFs. HANetf said that, unlike in the United States, exchange-traded funds in the European Union and the United Kingdom must hold a diversified basket of assets. ETCs are used to provide exposure to a single commodity or a group of commodities.
ETCs are part of the broader exchange-traded product, or ETP, market, which also includes ETFs and exchange-traded notes. These instruments allow investors to obtain exposure through a listed financial product instead of buying and storing the underlying asset directly.
That distinction is particularly relevant for crypto assets. Investors who use an exchange-traded product do not have to manage bitcoin custody themselves, including the practical responsibilities associated with holding digital assets directly. The product structure therefore brings bitcoin exposure closer to the way many traditional-market investors already access other assets.
HANetf is targeting long-term bitcoin investors who may be uneasy about possible dollar weakness. The company has previously offered currency-hedged gold ETCs covering the euro, pound and Swiss franc, and said currency-hedged gold ETCs represent a $23 billion asset class, or about 13% of Europe’s gold ETC market.
Market picture
Moneyiar market data recorded bitcoin at $83,576.731563252 at 09:09 on October 1, 2026, Tehran time. The asset was up 0.44% over 24 hours and down 0.04% over seven days.
The same Moneyiar data showed:
- Ondo at $0.5027322733, up 0.21% in 24 hours and 17.5% over seven days, as of 09:08 on October 1, 2026.
- Ethereum Classic at $8.9066340946, down 2.23% in 24 hours and 5.8% over seven days, as of 09:08.
- Decentraland at $0.0890729916, down 2.26% in 24 hours and up 7.31% over seven days, as of 09:09.
The new listings do not change bitcoin’s underlying volatility or guarantee a particular return. Their significance is in the packaging: investors in Britain and the euro area can use listed products that seek to separate bitcoin exposure from some of the currency risk created by its dollar-based pricing.
For the European crypto market, the launch also reflects the continued use of exchange-traded products as a bridge between digital assets and traditional finance. Investors familiar with listed securities can access bitcoin through a regulated market product, while HANetf and HSBC handle the product and hedging arrangements described in the announcement.
