TLDR
- Kazakhstan launches Central Asia’s first spot Bitcoin ETF via Astana Exchange.
- Fonte Capital debuts USD-priced Bitcoin ETF with insured BitGo cold storage.
- Astana International Exchange lists Kazakhstan’s first physical Bitcoin ETF.
- Kazakhstan joins US, Canada, Hong Kong in offering spot Bitcoin ETFs.
- Regulated Bitcoin ETF opens crypto access without private key handling.
Kazakhstan has introduced Central Asia’s first spot bitcoin exchange-traded fund through the Astana International Exchange(AIX). Fonte Capital will operate the product under the name Fonte Bitcoin Exchange Traded Fund OEIC. The fund will begin trading on August 13, priced in US dollars.
JUST IN: CENTRAL ASIA'S 1st #BITCOIN ETF JUST LAUNCHED IN KAZAKHSTAN
BTC BEING EMBRACED ALL AROUND THE WORLD. HUGE 🚀 pic.twitter.com/tfTL3t6D7M
— The Bitcoin Historian (@pete_rizzo_) August 12, 2025
The product will hold physical bitcoin rather than derivative contracts and will use custody services from US-regulated BitGo Trust. This custodian will offer insurance coverage of up to $250 million and uses offline cold storage systems. These measures aim to address risks related to theft, hacking, and counterparty failures.
The launch comes as Kazakhstan strengthens its role in the digital asset sector following China’s 2021 ban on bitcoin mining. The country became one of the largest mining hubs globally due to low-cost coal-powered electricity. Regulatory support within the Astana International Financial Centre further boosted its digital asset market position.
Regulated Structure and Market Access
The ETF will operate under the legal framework of the Astana International Financial Centre. This jurisdiction is structured to protect holdings from sanctions-related asset freezes and limit reliance on foreign issuers. The AIFC framework enables licensed exchanges, custodians and related financial products to function within its oversight.
Fonte Capital designed the ETF with in-kind settlement options to improve liquidity and reduce price tracking discrepancies. The management aims to maintain a low total expense ratio to enhance product competitiveness. The combination of regulated oversight and efficient structure aligns with international standards for exchange-traded products.
This fund allows both domestic and foreign participants to trade shares without directly handling cryptocurrency private keys. Market participants in cities such as Almaty or London can buy and sell the ETF through AIX. This structure simplifies digital asset exposure while maintaining traditional investment processes.
Regional and Global Context
Kazakhstan’s decision positions it ahead of neighboring Central Asian countries in offering regulated bitcoin investment products. Countries such as Uzbekistan and Kyrgyzstan have implemented slower policy approaches to digital asset adoption. This difference leaves Kazakhstan as the most open jurisdiction in the region for crypto-related products.
The move places Kazakhstan among markets such as the United States, Canada, and Hong Kong that allow spot bitcoin ETFs. These jurisdictions have recognized the demand for regulated vehicles that offer direct exposure to Bitcoin. The AIX listing aligns Kazakhstan with these established financial hubs.
Fonte Capital registered with the AIFC in 2022 and manages multiple diversified investment funds. The company views this ETF as a way to expand digital asset access within regulated channels. The launch marks a step in integrating Kazakhstan’s financial sector with the global digital economy.
