Key Takeaways
- • London-based HANetf, a European ETF provider, launched what it describes as the world's first euro-hedged bitcoin exchange-traded commodity (ETC), citing a shift in demand among its European client base.
- • Co-CEO Hector McNeil said the launch brings "the established logic of euro-hedged ETFs to the crypto market," extending a currency-hedging approach already used in its traditional ETF range.
- • HANetf is expanding its ETP platform to let asset managers issue and manage crypto ETCs, according to the company.
- • McNeil argues that bitcoin ETFs offer a regulated, secure and more accessible way to gain bitcoin exposure, a view he tied to bitcoin's move above $100,000 and a more crypto-friendly U.S. policy backdrop.
Summary
London-based HANetf, an exchange-traded fund provider, launched the world's first euro-hedged bitcoin ETC in the week before a Wall Street Journal question-and-answer piece with co-CEO Hector McNeil. The launch was framed by the firm as a response to changing demand among its European clients, who are increasingly seeking bitcoin exposure through regulated vehicles. In a statement on the launch, McNeil said, "With this launch, we are bringing the established logic of euro-hedged ETFs to the crypto market." The product applies the currency-hedging approach HANetf already uses in its ETF range, which is designed to give euro-based investors bitcoin exposure without the added currency risk of holding a dollar-denominated asset.
McNeil has also argued that bitcoin ETFs and ETCs offer a regulated, secure and more accessible way to trade the asset than direct ownership. In a separate interview with Proactive, he discussed the bitcoin rally above $100,000 and the potential effect of a more crypto-friendly U.S. regulatory environment on demand for these products.
HANetf is also widening its platform. According to the company, the expanded ETP platform will allow asset managers to manufacture and manage crypto ETCs within HANetf's infrastructure, extending its role beyond distribution. HANetf describes itself as Europe's first independent full-service provider of UCITS ETFs. The firm was established by McNeil and business partner Nik Bienkowski after McNeil stepped down as co-CEO of BoostETP following WisdomTree Europe's 2016 buyout of that company.
McNeil has also argued that bitcoin ETFs and ETCs offer a regulated, secure and more accessible way to trade the asset than direct ownership. In a separate interview with Proactive, he discussed the bitcoin rally above $100,000 and the potential effect of a more crypto-friendly U.S. regulatory environment on demand for these products.
HANetf is also widening its platform. According to the company, the expanded ETP platform will allow asset managers to manufacture and manage crypto ETCs within HANetf's infrastructure, extending its role beyond distribution. HANetf describes itself as Europe's first independent full-service provider of UCITS ETFs. The firm was established by McNeil and business partner Nik Bienkowski after McNeil stepped down as co-CEO of BoostETP following WisdomTree Europe's 2016 buyout of that company.
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