Kazakhstan Launches Central Asia’s First Spot Bitcoin ETF

ALMATY – Kazakhstan has taken a major step in integrating cryptocurrency into its regulated financial markets with the launch of the region’s first spot bitcoin exchange-traded fund (ETF) on Aug.13.

Photo credit: aix.kz

Astana-based company Fonte Capital announced that the Fonte Bitcoin Exchange Traded Fund OEIC (BETF) begins trading on the Astana International Exchange (AIX). The ETF is priced in U.S. dollars and is directly backed by physical bitcoin, providing both institutional and retail investors with regulated, secure access to the world’s largest cryptocurrency.

Custody for the fund is handled by BitGo Trust, a U.S.-regulated custodian that insures holdings up to $250 million. The bitcoins are stored in offline cold wallets and secure vaults. Measures are designed to safeguard against hacks and counterparty risks, reported Astana International Exchange press service on Aug. 13. 

The structure is designed to keep fees low and reduce tracking errors against bitcoin’s market price. Investors in Kazakhstan or abroad can purchase BETF shares through AIX without the need to manage private keys or use crypto exchanges.

The fund operates under the jurisdiction of the Astana International Financial Centre (AIFC), which offers a legal framework for digital assets.

By joining countries such as Canada, Hong Kong and the United States in approving spot bitcoin ETFs, Kazakhstan strengthens its position as a regional leader in digital finance. 

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