Kazakhstan has officially become the first country in Central Asia to launch a spot Bitcoin Exchange-Traded Fund (ETF), reinforcing its position as a growing hub for cryptocurrency innovation. The new ETF, named the Fonte Bitcoin Exchange Traded Fund OEIC (BETF), began trading on August 13, 2025, on the Astana International Exchange (AIX).
The ETF is issued by Astana-based Fonte Capital and is priced in U.S. dollars. What makes this launch significant is that, unlike exchange-traded notes (ETNs), the BETF directly holds actual bitcoin. This gives investors exposure to bitcoin without the need to manage crypto wallets or keys themselves.
Regulated, Secure, and Insured Bitcoin Access
BETF is fully regulated under the Astana International Financial Centre (AIFC), which provides a robust legal framework for digital asset operations. One notable feature of this jurisdiction is protection from international sanctions-related asset freezes—something that has attracted attention from both regional and international investors.
The fund’s bitcoin assets are secured by BitGo, a U.S.-regulated custodian. BitGo stores the bitcoin in offline cold storage and insures the holdings up to $250 million, offering peace of mind for those concerned about security and hacks.
Kazakhstan’s Growing Role in the Global Crypto Market
Kazakhstan’s rise in the crypto world began in 2021, when China banned bitcoin mining. Investors and miners quickly turned to Kazakhstan due to its cheap, coal-powered energy and crypto-friendly regulations. The country rapidly became one of the top bitcoin mining destinations globally.
The launch of BETF marks a new phase, making it easier than ever for both local and foreign investors to access bitcoin in a safe, regulated environment—without needing to hold the digital asset themselves. The fund aims for low costs, in-kind settlements, and minimal tracking error compared to the spot price of bitcoin.
With this move, Kazakhstan joins leading markets like the United States, Canada, and Hong Kong in offering a spot bitcoin ETF—showing that Central Asia is ready to take a more prominent role in the future of finance.
