Key Points

• GPW lists its first Bitcoin ETF, managed by AgioFunds with CME futures exposure.
  
• ETF uses FX hedging to limit U.S. dollar and Polish zloty exchange risks.
  
• Poland joins global markets in regulated Bitcoin ETFs as demand rapidly grows.
  

The Warsaw Stock Exchange has launched Poland’s first Bitcoin exchange-traded fund, providing regulated exposure to the cryptocurrency. Managed by AgioFunds TFI SA, the Bitcoin BETA ETF tracks futures contracts listed on the Chicago Mercantile Exchange.

The fund incorporates a foreign exchange hedging strategy to reduce risks tied to fluctuations between the U.S. dollar and the Polish zloty. This approach makes it the first ETF on GPW to combine cryptocurrency exposure with FX risk management.

Regulatory Approval and Market Structure

The Polish Financial Supervision Authority approved the ETF prospectus on June 17, 2025, authorizing the issuance of Series A and B certificates. Dom Maklerski Banku Ochrony Środowiska S.A. has been appointed market maker to ensure sufficient liquidity.

The ETF tracks Bitcoin futures performance and allows investors to redeem shares, while hedging contracts help manage currency volatility. Its fee structure includes up to 1% for redemptions, aligning with market standards for similar products.

Growing Demand and Regional Significance

The Bitcoin BETA ETF increases the total number of ETFs listed on GPW to sixteen, including domestic and international benchmarks. Turnover in ETFs on the exchange has already reached PLN 1.9 billion this year, marking a 94.2% rise over 2024.

By launching its first Bitcoin ETF, Poland joins global capital markets such as Canada and the United States in offering crypto-linked funds. The listing reflects rising demand from institutional and retail investors while strengthening Poland’s role in Eastern Europe’s financial landscape.

The debut also coincides with the implementation of new, aligning Poland with broader European standards. As interest in digital assets grows, the ETF provides investors a supervised pathway into Bitcoin without direct custody risks.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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