**Underlying Holdings:** The price is primarily driven by the performance of the companies within the HYDRO.PA ETF's portfolio. **Supply and Demand:** Increased demand for HYDRO.PA will typically push its price up, while increased selling pressure will lower it. **Sector Performance:** Overall health and investor sentiment toward the hydrogen energy sector significantly impact the ETF's value. **Interest Rates:** Changes in interest rates can affect valuations of companies within the ETF, influencing its price. **Economic Conditions:** Broad economic trends and outlook influence investor confidence and impact the hydrogen sector. **Regulatory Environment:** Government policies, subsidies, and regulations related to hydrogen energy affect company prospects. **Technological Advancements:** Breakthroughs or setbacks in hydrogen technology impact market perception and company valuations. **Geopolitical Events:** Global events, energy crises, or political instability influence energy markets and the hydrogen sector. **Fund Flows:** Large inflows or outflows from the ETF can influence its price as the fund buys or sells underlying assets. **Currency Exchange Rates:** Fluctuations in currency exchange rates can impact the value of non-Euro denominated holdings.