The Warsaw Stock Exchange (GPW) has debuted its first Bitcoin-focused exchange-traded fund (ETF), marking a milestone in Poland’s financial market.
The new product, called the Bitcoin BETA ETF, offers domestic investors a regulated way to gain exposure to Bitcoin through futures contracts rather than direct ownership of the cryptocurrency.
Managed by AgioFunds TFI SA, the ETF tracks Bitcoin futures listed on the Chicago Mercantile Exchange (CME), one of the leading platforms for crypto derivatives.
To protect investors from currency fluctuations between the U.S. dollar and the Polish zloty, the fund incorporates an FX hedge using forward contracts. This makes it the first ETF on the GPW to combine cryptocurrency exposure with built-in currency risk management.
The Polish Financial Supervision Authority (KNF) approved the ETF prospectus on June 17, 2025. Following this, AgioFunds TFI issued two series of investment certificates (A and B). To ensure liquidity and stable trading, Dom Maklerski Banku Ochrony Środowiska S.A. has been appointed as market maker.
Expanding ETF Market in Poland
The launch comes amid strong growth in Poland’s ETF market. GPW now hosts 16 ETFs, covering local indexes such as WIG20, mWIG40, and sWIG80. These funds also extend to global benchmarks, including the S&P 500, Nasdaq-100, and DAX.
ETF trading has surged, with turnover hitting PLN 1.9 billion year-to-date, a 94.2% increase from the previous year.
Industry Leaders Welcome the Launch
Industry leaders welcomed the move. GPW board member Michał Kobza emphasized that regulated Bitcoin exposure enhances safety for investors wary of unregulated crypto markets.
Kazimierz Szpak, CEO of BETA TFI SA, added that the ETF reflects growing demand for new asset classes and offers a transparent and straightforward investment path.
By introducing the Bitcoin BETA ETF, Poland joins financial hubs such as the U.S. and Germany, strengthening GPW’s role in the global ETF ecosystem while meeting rising investor appetite for digital assets.
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