HANetf Launches Euro-Hedged Bitcoin ETC on Euronext Paris
Ethereum Classic (ETC)
Editor:
Eugene Serbin
cvj.ai reports that HANetf has launched the world’s first euro-hedged bitcoin exchange-traded commodity, listing the Arrow Bitcoin EUR Hedged ETC on Euronext Paris. The product began trading on September 29 under the ticker EBTC and aims to allow European investors to gain bitcoin exposure without taking on additional US dollar risk. Bitcoin is priced globally in US dollars, meaning unhedged investors effectively hold two positions: one on bitcoin and one on the dollar.
HANetf co-founder and co-CEO Hector McNeil stated, “With this launch, we are bringing the established logic of Euro-hedged ETFs to the crypto market.” The ETC uses physical replication, is domiciled in Jersey, and lists on Xetra from September 30 under ISIN XS3438606090. Currency hedging is supplied by HSBC, and the total expense ratio is 0.49 percent. This move mirrors the established logic of currency-hedged gold products, which account for roughly $23 billion of European gold ETC assets. The launch occurs as European crypto ETP assets have grown to roughly $12 billion, though this remains a fraction of the roughly $100 billion held in US products.
How the market reacted
Whalio's own Binance spot order flow for ETC, measured when this story was written up on 30 September 2026. Not the outlet's figures.
Whalio’s data for ETC shows a buy ratio of 60.7% over the last hour, which is notably higher than the 57.6% reading over four hours and the 51.0% reading over 24 hours. This indicates that buying pressure is building in the short term relative to the broader daily trend. The volume delta reflects this shift, showing +$44,787 in the last hour compared to +$163,041 over four hours and +$126,714 over 24 hours. Volume delta measures the net difference between buy and sell volume, so positive figures indicate that buyers are outweighing sellers. The cumulative volume delta (CVD) for the 24-hour period closed at +$696,507, confirming sustained net buying pressure throughout the day. Spot volume reached $6,335,142 with 40,388 trades recorded in the same period.
The latest daily buy ratio of 47.1% sits at the 28th percentile of the last 322 days, against a median of 49.0% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETC, averaged over the days leading up to the story.
Over the preceding week, ETC saw a 7-day average buy ratio of 51.6%, with the latest day sitting 0.6 percentage points below that average. Volume was recorded at 0.67x the weekly average, indicating a quieter trading session compared to typical days. Net buying occurred on 6 of the 7 days, with a total volume delta of +$2,507,241 over the eight-day period. The price changed by -3.7% over the eight days, showing a slight decline despite the net positive volume delta. This suggests that while buying pressure was present, it was not enough to overcome selling pressure or price depreciation over the longer timeframe.