The Warsaw Stock Exchange (GPW) has marked a significant milestone by officially listing the Bitcoin BETA ETF, enabling investors in Poland to gain exposure to Bitcoin through a regulated exchange-traded fund for the first time. This development opens new avenues for investment in the cryptocurrency market, aligning with a growing global trend to incorporate Bitcoin into mainstream financial products.
Managed by AgioFunds TFI SA, the Bitcoin BETA ETF is structured to provide exposure primarily through futures contracts listed on the Chicago Mercantile Exchange (CME). A crucial aspect of this ETF is its foreign exchange (FX) risk hedging strategy, designed to mitigate the impact of fluctuations between the U.S. dollar and the Polish zloty. This innovative approach makes it the first ETF on GPW to provide cryptocurrency exposure while actively managing currency volatility, catering to the needs of investors concerned about exchange rate fluctuations.
Michał Kobza, a member of the Management Board of GPW, emphasized the importance of this listing, stating that it aligns with investor expectations and the ongoing trend toward diversifying asset classes available in the public market. He noted the enhanced safety that this market provides, as it allows investors to engage with the cryptocurrency market through a regulated instrument, ensuring compliance with transparency standards and oversight typically associated with a capital market.
The Polish Financial Supervision Authority (KNF) granted approval for the ETF prospectus on June 17, 2025, which allows AgioFunds TFI to issue both Series A and B investment certificates. To promote liquidity in trading, Dom Maklerski Banku Ochrony Środowiska S.A. has been appointed as the market maker for this ETF.
Kazimierz Szpak, the CEO of BETA TFI SA and BETA ETF Asset Manager at AgioFunds TFI, expressed enthusiasm about the new listing, emphasizing that it responds to the rising demand from investors for diversified asset classes. He believes that the Bitcoin BETA ETF will resonate well with market expectations and be positively received by investors.
With the addition of the Bitcoin BETA ETF, the GPW now lists a total of sixteen ETFs, which also include funds tracking Polish indices like WIG20, mWIG40, and sWIG80, as well as international benchmarks such as the S&P 500, Nasdaq-100, and DAX. The exchange further offers various sector-focused ETFs, leveraged options, and inverse ETFs.
Data from GPW indicates a remarkable growth in ETF adoption within Poland. The turnover in ETFs has surged to PLN 1.9 billion year-to-date, reflecting a staggering 94.2% increase compared to the same period last year. By introducing its first Bitcoin ETF, the GPW positions itself among global capital markets that have already embraced investment options based on Bitcoin, highlighting the increasing demand from both institutional and retail investors for regulated access to this digital asset class. This move further solidifies Poland’s role in the evolving landscape of ETFs and cryptocurrencies.
