HANetf has launched what it describes as the world's first currency-hedged bitcoin exchange-traded commodities, offering European investors bitcoin exposure while reducing the effect of U.S. dollar exchange-rate movements. The pound-hedged GBTC trades on the London Stock Exchange, while the euro-hedged Arrow Bitcoin EUR Hedged ETC, or EBTC, trades on Euronext Paris and Xetra. HSBC provides currency hedging for both products. Bitcoin is generally denominated in dollars, meaning euro- and pound-based investors can face currency risk alongside bitcoin price movements. The products are intended for long-term bitcoin investors concerned about potential dollar weakness, though the hedge does not reduce bitcoin's underlying volatility or prevent losses from a decline in its price. EBTC is physically replicated and has a 0.49% total expense ratio. The listed structure allows investors to gain bitcoin exposure without managing digital-asset custody directly.