Canadian Cannabis Sector Performance: The underlying health and performance of Canadian cannabis companies directly impacts the ETF's value.

Global Cannabis Market Trends: International developments and trends in the cannabis industry, especially regulatory changes, can influence investor sentiment and HCAN.PA's price.

Regulatory Environment: Shifts in Canadian cannabis regulations, including taxation and licensing, affect the profitability of cannabis companies and thus, the ETF.

Investor Sentiment: Overall market mood and investor appetite for risk, particularly regarding cannabis-related investments, play a crucial role.

ETF Supply and Demand: The simple economics of supply and demand for HCAN.PA units affect its price. High demand relative to supply drives prices up, and vice versa.

Management Fees and Expenses: The ETF's expense ratio and other fees impact its net asset value and thus, its trading price.

Currency Fluctuations: As HCAN.PA invests in Canadian assets, currency exchange rates between the Euro (where it's listed) and the Canadian dollar affect its Euro-denominated price.