What Is a Euro EUR?
A euro EUR is an exchange-traded fund (ETF) that invests in the euro, either directly or through euro-denominated short-term debt. Euro ETFs are often established as currency trusts or grantor trusts—stakeholders have a claim to a specific amount of euros per share. Currency ETFs intend to track the performance of a single currency in the foreign exchange market against the U.S. dollar or a basket of currencies.
Previously, these markets were only accessible to professional traders; however, the rise of exchange-traded funds (ETFs) over the past decade has opened the foreign exchange market to additional segments of investors.