Kazakhstan Becomes First in Central Asia to Debut Spot Bitcoin ETF via Fonte Capital

Kazakhstan Debuts Central Asia’s First Spot Bitcoin ETF via Fonte Capital

Kazakhstan has officially joined the global race for bitcoin-backed financial products with the launch of Central Asia’s first spot bitcoin ETF.

Astana-based Fonte Capital announced that its Fonte Bitcoin Exchange Traded Fund OEIC (BETF) began trading on August 13 on the Astana International Exchange (AIX). Priced in U.S. dollars and physically backed by bitcoin, the ETF offers investors direct exposure to BTC without the complexities of managing private keys or navigating crypto exchanges.

Custody for the fund is handled by BitGo, a U.S.-regulated digital asset custodian with insurance coverage of up to $250 million. Assets are stored in offline cold storage, providing institutional-grade security and appealing to risk-conscious investors.

The BETF is regulated by the Astana International Financial Centre (AIFC), a financial jurisdiction that aims to serve as a regional crypto hub. The AIFC’s regulatory framework is designed to shield assets from potential international sanctions while allowing licensed crypto entities—exchanges, custodians, and funds—to operate within a compliant environment.

Kazakhstan, now a top bitcoin mining hub following China’s 2021 crackdown, is leveraging its crypto-friendly stance to broaden its financial sector. While neighboring countries like Uzbekistan and Kyrgyzstan have adopted a more conservative approach to crypto, Kazakhstan remains open, betting on digital assets to attract foreign capital and diversify market offerings.

The ETF supports in-kind settlement, keeps expense ratios low, and is structured to minimize tracking error—key features for both institutional and retail participants. Its launch aligns Kazakhstan with major jurisdictions like the U.S., Canada, and Hong Kong, all of which have approved spot bitcoin ETFs in recent years.

Fonte Capital, which has operated under the AIFC framework since 2022, said BETF provides a secure and streamlined entry point for investors looking to integrate bitcoin exposure into traditional portfolios with a “high level of reliability and control.”