Capital MarketsBrief
Warsaw lists HANetf's 2x bitcoin notes, taking its exchange-traded products to 48
The two zloty-quoted notes carry a 2% annual fee; ETF and ETN turnover in Warsaw was PLN 531.8m in September, double a year earlier.
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The Warsaw Stock Exchange (GPW) admitted two exchange-traded notes from HANetf that give two-times leveraged long or short exposure to bitcoin, taking the number of exchange-traded funds, notes and commodities listed in Warsaw to 48, according to the exchange's release of 15 October 2026. The notes, ETNHAN2LBT and ETNHAN2SBT, are quoted in zloty and carry a management fee of 2 per cent a year.
The listing brings HANetf's range on the exchange to 12 instruments, and Raiffeisen Bank International AG acts as market maker, the release said. It described both notes as higher-risk products whose value generally moves at twice the rate of the underlying, and said their assets are segregated and fully backed by bitcoin, whose market capitalisation it put at about $1.67 trillion. The notes trade in the exchange's segment for exchange-traded funds, commodities and notes. The release does not say whether the long and short notes are rebalanced daily or how the leverage is reset, details that the issuer's documentation would set out.
The additions extend a run of crypto-linked notes in Warsaw. In September, the issuer Virtune listed notes tracking Chainlink on 3 September and Hyperliquid on 17 September, taking its Warsaw offering to eight instruments, according to GPW's September activity release. Turnover in exchange-traded funds, notes and commodities was PLN 531.8 million in September, up 99.9 per cent on a year earlier, and PLN 5.1 billion since the start of 2026, up 132 per cent, the release shows. Turnover in structured products was PLN 286.3 million in September, and on the Catalyst debt market the exchange admitted bonds of Matexi Polska Holding & Finance worth PLN 105 million, its 14th bond introduction of 2026.
"These instruments are specifically designed for active investors pursuing trading strategies," Michał Kobza, a member of the exchange's management board, said in the release. Hector McNeil, co-chief executive and co-founder of HANetf, said that "HANetf has extensive experience in the inverse and leveraged ETP space."
The release does not give a first-day turnover figure for the two notes, and the segment's monthly figure for October will appear in the exchange's next activity release, which on the September precedent is due in the first days of November 2026.