Poland and Bitcoin: Can Warsaw become Europe crypto hub?

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Poland launches its first Bitcoin ETF

ETF as a signal for investors

The launch of crypto ETFs has become one of the global trends of recent years. The U.S. opened its market to spot Bitcoin funds, Germany and Switzerland followed, and now Poland has joined the wave. GPW board member Michał Kobza explained: “Offering access to Bitcoin through an ETF on GPW increases trading safety, as investors can participate in the cryptocurrency market using an instrument that is supervised and subject to the transparency standards of a regulated capital market.”

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In fact, Warsaw has become the first exchange of this scale in Eastern Europe to launch a Bitcoin ETF. This means Polish investors now have a legal and relatively safe way to access cryptocurrency without leaving the traditional financial sector.

ETF in Poland

GPW already had experience with similar products: today, 16 ETF are traded on the exchange, including those tracking Polish stock indices. Demand for such products is rising rapidly — in 2025 alone, turnover reached 1.9 billion zloty, almost double compared to last year. Adding Bitcoin to this lineup looks like a natural continuation of the trend.

The launch of the new fund also comes at a time when Poland is actively updating its crypto rules under the EU’s Markets in Crypto-Assets (MiCA) regulation. The European Union is building a unified system for digital asset oversight, and Warsaw wants to be among its leaders.

Rules of the game: MiCA and taxes

In Poland, cryptocurrencies are legal and regulated. Since 2021, companies providing virtual asset services have been required to register in a special registry. It’s not a full license, but it’s a control mechanism that allows the state to monitor the sector.

Tax policy is also transparent: profits from crypto transactions are taxed at 19%, calculated as the difference between income and expenses. Investors must file an annual PIT-38 form. Even receiving Bitcoin or another cryptocurrency as a gift is taxed as inheritance or donation. For businesses, another rule applies — operating without registration in the Virtual Currency Register can lead to fines.

Cryptocurrency in daily life

Officially, cryptocurrency does not have legal tender status in Poland, but in practice the reality is different. More and more businesses voluntarily accept Bitcoin and stablecoins. Most often, people use digital assets to pay for groceries and electronics, as well as for travel and hotels.

So in everyday life, crypto has not yet replaced the zloty, but it has long since stopped being just an “enthusiasts’ investment.” For many Poles, it’s a convenient alternative — a way to spend and save in a world where traditional finance is constantly shifting.

Poland in the context of MiCA: Are the rules really the same?

The MiCA regulation is intended to create a single market for crypto assets across the EU. In practice, however, things look more complicated. Each country retains its own approach to implementation. In Germany, for example, the BaFin regulator requires a complex and costly licensing process, making the market accessible mostly to large players. France, on the other hand, moved faster: its earlier PSAN licensing system has already integrated into MiCA, making it one of the most crypto-friendly countries in the EU. Estonia, which a few years ago was considered a “crypto haven,” toughened requirements after its 2021–2022 reform, and many companies left the jurisdiction.

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Against this backdrop, Poland looks fairly balanced. Its system of registering with the Virtual Currency Register is simpler than Germany’s, yet stricter than many “light-touch” regimes. That means regulation exists, but it is not suffocating — and this balance may become a competitive advantage.

All this creates an interesting outlook for the country. Warsaw is gradually becoming a gateway to the EU crypto market for investors from Eastern Europe. On one hand — clear rules, a transparent tax system, and MiCA integration. On the other — readiness for innovation, proven by the launch of a Bitcoin ETF.Now Poland competes not only with its regional neighbors but also with global hubs. And if Warsaw manages to combine regulation with openness, it has every chance to become the true crypto hub of Central Europe.

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