Kazakhstan Makes History: Fonte Capital Launches Central Asia’s First Spot Bitcoin ETF

Breaking the steppe's crypto ice—Kazakhstan just fired the starting gun on institutional Bitcoin access.

Fonte Capital's landmark ETF opens floodgates

No more mining monopoly—Astana pivots from hashpower to financial infrastructure with this regulated on-ramp. The same regulators who once cut power to illegal miners now court Wall Street's algorithms.

Watch the domino effect

Neighboring capitals will scramble to match this move before the liquidity migrates. Moscow's OTC desks and Dubai's free zones just got fresh competition.

The cynical take? Another financial product for oligarchs to park capital—but this time with 24/7 volatility and blockchain receipts.

“The BETF fund is physically backed by Bitcoin, with custody from BitGo Trust”

Custody is provided by the US-regulated digital asset custodian BitGo. “Through secure, US-regulated cold storage, BitGo is helping deliver institutional-grade bitcoin access to investors in the region for the first time,” BitGo said in a post on X.

“The listing of BETF on AIX marks an important step in the development of Kazakhstan’s investment infrastructure and provides investors with a regulated and secure way to include Bitcoin in their investment portfolios without the complexities associated with holding and transferring the underlying asset,” Fonte Capital said.

Furthermore, the ETF will operate within the legal and supervisory framework of the Astana International Centre (AIFC).

Kazakhstan Moves To Create National Crypto Reserve With Seized Assets

Kazakhstan is preparing to launch a state-run crypto reserve as the National Bank of Kazakhstan confirmed plans to create a national crypto reserve. The fund will likely be made of seized digital assets and government-linked mining operations.

The announcement came from the government news agency Kazinform on 25 June 2025. National Bank Chairman Timur Suleimenov acknowledged the internet volatility and risks associated with crypto. However, he argued that placing the crypto reserve under the control of a centralized institution WOULD ensure proper oversight and mitigate potential dangers.

Importantly, Kazakhstan’s crypto reserve is expected to be managed by a subsidiary of the National Bank specializing in alternative investments.

: Top 20 Crypto to Buy in August 2025

Key Takeaways

• BETF will be Central Asia first regulated and physically backed Bitcoin ETF.

• The BETF launch consolidates Kazakhstan’s leadership within Central Asia by delivering a flagship, regulated spot Bitcoin vehicle ahead of neighbors such as Uzbekistan and Kyrgyzstan, which have taken more cautious approaches.