Quick Breakdown:
- Warsaw Stock Exchange launches its first crypto-linked ETF, the Bitcoin BETA ETF, offering exposure to bitcoin futures.
- The ETF uses FX risk hedging to limit USD/PLN volatility, with liquidity supported by Dom Maklerski BOŚ S.A.
- GPW now lists 16 ETFs, with turnover reaching PLN 1.9 billion in 2025, nearly doubling year-on-year.
The Warsaw Stock Exchange (GPW) has officially listed its first cryptocurrency-linked exchange-traded fund, the Bitcoin BETA ETF, providing regulated exposure to bitcoin through futures contracts.
Regulated exposure with FX risk hedging
Approved by the Polish Financial Supervision Authority (KNF) in June 2025, the Bitcoin BETA ETF offers investors exposure to bitcoin futures traded on the Chicago Mercantile Exchange (CME). A key feature of the fund is its FX risk hedging strategy, which uses forward contracts to mitigate fluctuations between the US dollar and Polish zloty.
Dom Maklerski Banku Ochrony Środowiska S.A. has been appointed as the market maker to ensure liquidity, while AgioFunds TFI is managing the ETF under the BETA brand. According to GPW, listing the Bitcoin BETA ETF brings digital asset exposure into the framework of supervised, transparent, and cleared trading, offering a safer alternative for investors compared to direct cryptocurrency purchases.
Growing investor demand for digital assets
The ETF’s debut reflects rising demand in Poland for diversified asset classes, particularly as global markets continue expanding crypto-linked products. Michał Kobza, Management Board Member of GPW, emphasized that the listing
“follows the trend of diversifying asset classes while providing investors with a secure way to access the cryptocurrency market.”
Kazimierz Szpak, CEO of BETA TFI and asset manager of the fund, noted that the ETF is designed to meet market expectations, highlighting growing appetite for regulated crypto instruments.
With the addition of the Bitcoin BETA ETF, GPW now lists 16 ETFs, spanning Polish indices such as WIG20 and mWIG40, foreign benchmarks including the S&P500 and Nasdaq-100, as well as sector, leveraged, and inverse funds. ETF trading activity on GPW has accelerated in recent years, with turnover reaching PLN 1.9 billion year-to-date, nearly doubling compared to the previous year.
Meanwhile, in Asia, Upbit, South Korea’s largest crypto exchange, expanded its roster with the listing of Avantis (AVNT). Trading pairs are available in KRW, BTC, and USDT on the Base network, opening fresh liquidity channels for the protocol.
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