Kazakhstan has launched Central Asia’s first spot Bitcoin ETF, offering investors a regulated and physically backed way to gain exposure to the leading cryptocurrency.
Astana-based Fonte Capital opened the “Fonte Bitcoin Exchange Traded Fund OEIC” (BETF) for trading on the Astana International Exchange (AIX) as of August 13. Custodied by U.S.-regulated BitGo Trust, the ETF is physically backed by Bitcoin, with each share directly supported by the asset. BitGo secures the holdings in offline cold storage with insurance coverage of up to $250 million.
Following China’s 2021 mining ban, Kazakhstan rapidly increased its share in global Bitcoin production, and this move further solidifies its position as a regional leader. BETF allows investors to access Bitcoin without dealing with private key management or crypto exchange operations. The fund is regulated by the Astana International Financial Centre (AIFC), which highlights its asset protection against international sanctions and reduced reliance on foreign issuers.
With a low expense ratio and a goal to closely track Bitcoin’s market price, BETF aims to attract both local and international investors. This positions Kazakhstan alongside the U.S., Canada, and Hong Kong in the league of countries approving spot Bitcoin ETFs.
