Warsaw Joins ETF Wave: Bitcoin BETA With CME Futures, PLN Hedge
The Warsaw Stock Exchange (GPW) has debuted its first-ever crypto ETF, the Bitcoin BETA ETF, providing regulated exposure to Bitcoin...
Quick overview
- The Warsaw Stock Exchange has launched its first crypto ETF, the Bitcoin BETA ETF, which offers regulated exposure to Bitcoin through futures contracts.
- The ETF, developed by AgioFunds TFI, utilizes USD/PLN hedging to manage currency risk and is backed by Dom Maklerski Banku Ochrony Środowiska S.A. as its market maker.
- Globally, interest in crypto ETFs is rising, with over 90 filings for altcoin ETFs and a potential for more than 100 new crypto ETFs in the next year due to regulatory changes.
- The introduction of the Bitcoin BETA ETF aligns with a broader trend of regulated crypto investment options, enhancing safety and transparency for investors.
The Warsaw Stock Exchange (GPW) has debuted its first-ever crypto ETF, the Bitcoin BETA ETF, providing regulated exposure to Bitcoin without holding physical coins. Instead, the fund invests in Bitcoin futures traded on the Chicago Mercantile Exchange (CME), employing forward contracts to hedge USD/PLN currency risk.
Developed by AgioFunds TFI and approved by Poland’s Financial Supervision Authority in June, the ETF uses Dom Maklerski Banku Ochrony Środowiska S.A. as its market maker. Michał Kobza, GPW board member, emphasized that the ETF allows investors to access the cryptocurrency market under the safety and transparency standards of a regulated exchange.
- Exposure: CME Bitcoin futures
- Risk management: USD/PLN hedging via forwards
- Market maker: Dom Maklerski Banku Ochrony Środowiska S.A.
Global Crypto ETF Landscape
Bitcoin ETFs have gained significant traction worldwide. In the U.S., spot and futures-based ETFs have been listed on Nasdaq, NYSE, and Cboe since early 2024. Other key markets include the Toronto Stock Exchange, Germany’s Xetra, Switzerland’s SIX Exchange, Brazil’s B3, and Cboe Australia.
🚨 BREAKING 🚨
🇵🇱 Poland's Warsaw Stock Exchange just launched its first Bitcoin ETF — the Bitcoin Beta ETF! 🔥💹
Another country joins the global Bitcoin adoption wave. 🌍⚡#Bitcoin #ETF #Poland #Crypto #BullRun pic.twitter.com/N6vLLd9cD9
— Murt Crypto (@Murtaza_Saraf) September 18, 2025
Globally, ETFs vary in structure: some are physically backed by Bitcoin, while others, like GPW’s Bitcoin BETA ETF, rely on futures. Analysts note growing interest in altcoin ETFs, with Bloomberg tracking over 90 filings, signaling increasing diversification beyond Bitcoin and Ethereum.
- Physical vs. futures-based ETFs: variety of investment options
- Altcoin ETFs: growing presence in global markets
- Total filings: 90+ crypto-related ETFs and ETPs
Regulatory Tailwinds for ETF Growth
The momentum for crypto ETFs is expected to accelerate after the SEC approved generic listing standards for commodity-based trust shares in the U.S. This rule allows exchanges to list qualifying spot crypto ETFs without requiring a full review for each product.
Eric Balchunas, Bloomberg ETF analyst, highlighted the impact: “The last time a generic listing standard was implemented, ETF launches tripled. We could see over 100 crypto ETFs launched in the next 12 months.” Such regulatory clarity could pave the way for further adoption of ETFs like Bitcoin BETA, providing institutional and retail investors with safer and more transparent access to digital assets.
- Regulatory impact: Streamlined approval for spot ETFs
- Adoption: Boost for institutional and retail investors
- Market forecast: Potential 100+ crypto ETF launches in 12 months
With this listing, Warsaw joins a growing global trend of regulated crypto ETFs, expanding the avenues for investors to participate in digital asset markets safely.
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