The first Bitcoin ETF has been launched on the Warsaw Stock Exchange.
This week, the Warsaw Stock Exchange announced the listing of Poland’s first exchange-traded fund (ETF), based on Bitcoin.
ETF provides investors with access to the cryptocurrency market through regulated trading on the exchange, according to a press release from the Warsaw Stock Exchange.
Happy new year!Bitcoin BETA ETFThe Polish exchange has joined the ranks of major capital markets seeking to offer investment products related to decentralized digital assets.
The Polish trading platform lists shares of over 400 companies with a combined market capitalization approaching 2,2 trillion Polish zlotys (over $600 billion), making it the largest exchange in Central and Eastern Europe.
There are already 16 shares traded on the Warsaw Stock Exchange ETF, and adding an exchange-traded fund to BitcoinAccording to Michal Kobz, a member of the exchange’s board, the exchange is meeting investors’ expectations.
Management bitcoin ETF The fund is being managed by the licensed investment company AgioFunds. Its placement was approved by the Polish Financial Supervision Authority in mid-June.
Access to Bitcoin is provided through futures listed on the Chicago Mercantile Exchange (CME). Polish brokerage firm DM BOŚ acts as a market maker, providing liquidity.
The fund seeks to generate returns that reflect changes in the futures contract Bitcoin, regardless of price changes. The fund redeems investments upon request with a commission of up to 1%.
The currency risk is hedged using forward contracts, which softens the impact of fluctuations in the zloty-US dollar exchange rate.
