Polish investors can now get an easier and more regulated exposure to bitcoin as the Warsaw Stock Exchange (GPW) has launched the country’s first bitcoin exchange-traded fund (ETF).
This is a big step for Poland’s financial markets and shows growing interest in bitcoin investment in Eastern Europe.
The new product, called Bitcoin BETA ETF, was introduced by AgioFunds TFI SA, a licensed investment fund company.
The ETF is not a spot bitcoin ETF, and it does not hold actual bitcoin. Instead, it allows investors to get exposure to bitcoin through futures contracts traded on the Chicago Mercantile Exchange (CME).
Futures ETFs generally get regulatory approvals more easily, as they do not hold any funds.
What’s special about this fund is that it has foreign exchange (FX) risk hedging, so the impact of USD/PLN fluctuations on investor returns is reduced.
“The ETF gives investors exposure to the cryptocurrency market in regulated trading on the stock exchange,” said GPW.
The ETF is designed to meet the growing demand from institutional and retail investors looking for a safe and regulated way to invest in bitcoin.
Although futures ETFs tend to underperform spot over time, they still provide a means of getting exposure to bitcoin without the need for digital wallets or unregulated platforms.
Michał Kobza, member of the GPW Management Board, emphasized the benefits:
“Offering exposure to Bitcoin through an ETF listed on GPW increases safety of trading as investors can participate in the cryptocurrency market using an instrument which is supervised, cleared, and subject to the transparency standards applicable to a regulated capital market.”
Liquidity for the fund is provided by Dom Maklerski Banku Ochrony Środowiska S.A. (BOŚ), a Polish brokerage acting as market maker. So investors can buy and sell the ETF without worrying about big price gaps.
The Polish Financial Supervision Authority (KNF) approved the ETF prospectus on June 17, 2025. Now AgioFunds can issue Series A and B investment certificates and the ETF can be listed on GPW.
Kazimierz Szpak, CEO of BETA TFI SA and manager of the BETA ETF brand at AgioFunds, said:
“The ETF is our response to the growing demand from investors for new asset classes. I believe that the Bitcoin BETA ETF will meet market expectations and will be welcomed by investors.”
The Bitcoin BETA ETF brings the total number of ETFs on GPW to 16.
There are funds tracking Polish indices like WIG20, mWIG40 and sWIG80, as well as international benchmarks like S&P 500, Nasdaq-100, and DAX. Sector ETFs, leveraged products, and inverse ETFs are also available.
ETFs are gaining popularity in Poland. According to GPW data, ETF turnover has already reached PLN 1.9 billion this year, which is 94% more than in the same period last year.
Poland follows the global trend of Bitcoin-based investment products. Canada had its first bitcoin ETFs in 2021, and the U.S. in 2024. Now, billions of dollars are traded daily across bitcoin-linked ETFs.
Related: Kazakhstan Launches First Spot Bitcoin ETF in Central Asia with BitGo
