Polish investors can gain easier and more regulated exposure to Bitcoin as the Warsaw Stock Exchange (GPW) launches the country’s first Bitcoin Exchange Transaction Fund (ETF).
This is a major step for Polish financial markets, and there is growing interest in investing in Bitcoin in Eastern Europe.
A new product called Bitcoin Beta ETF was introduced by Agiofunds TFI SA, a licensed investment fund company.
The ETF is not a spot for the Bitcoin ETF and does not hold any actual Bitcoin. Instead, investors can touch Bitcoin through futures contracts traded on the Chicago Mercantile Exchange (CME).
Futures ETFs generally do not have funds, making them easier to obtain regulatory approval.
The special feature of this fund is that it reduces the impact of USD/PLN fluctuations on investors’ returns due to its foreign exchange (FX) risk hedge.
“ETFs will ensure investors are exposed to the cryptocurrency market in regulated trading on stock exchanges.” GPW said.
ETFs are designed to meet the growing demand from institutional and retail investors looking for a safe, regulated way to invest in Bitcoin.
Futures ETFs tend to perform their spots over time, but provide a way to get in touch with Bitcoin without the need for a digital wallet or an unregulated platform.
Michał Kobza, a member of the GPW Management Committee, highlighted the merits.
“Providing Bitcoin exposure through ETFs listed in the GPW increases trading security as investors can participate in the cryptocurrency market subject to transparency standards that apply to the regulated capital market.”
The liquidity of the fund is provided by Dom Maklerski Banku OchronyśrodowiskaSA (Boś), a Polish brokerage company that serves as a market maker. This allows investors to buy and sell ETFs without worrying about a big price gap.
The Polish Financial Supervisory Authority (KNF) approved the ETF prospectus on June 17, 2025. Currently, Agiofunds can issue Series A and B investment certificates, and ETFs can be listed in GPW.
“We are pleased to announce that Kazimierz Szpak, CEO of Beta TFI SA and manager of Beta ETF brand at Agiofunds,” said:
“ETFs are our response to growing demand from investors for new asset classes. I think Bitcoin Beta ETFs will meet market expectations and will be welcomed by investors.”
Bitcoin Beta ETFs will make the total number of GPW ETFs to 16.
There are funds to track Polish indexes such as the WIG20, MWIG40, and SWIG80, as well as international benchmarks such as the S&P 500, Nasdaq-100, and Dax. Sector ETFs, leveraged products, and reverse ETFs are also available.
ETFs are gaining popularity in Poland. According to GPW data, ETF sales have already reached PLN 1.9 billion this year, 94% more than last year’s same time period.
Poland follows global trends in Bitcoin-based investment products. Canada won its first Bitcoin ETF in 2021 and the US in 2024. Billions of dollars are currently traded daily across Bitcoin Link ETFs.
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