Fonte Capital Launches Central Asia’s First Spot Bitcoin ETF in Kazakhstan
Kazakhstan has become the first country in Central Asia to launch a spot bitcoin ETF, marking a major milestone for crypto investment access in the region.
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). The ETF, priced in U.S. dollars, offers physically backed exposure to bitcoin and is custodied by U.S.-regulated BitGo, which provides insurance coverage of up to $250 million.
Unlike exchange-traded notes or synthetic products, BETF directly holds bitcoin, using secure cold storage to mitigate risks of theft and counterparty exposure. The fund is regulated by the Astana International Financial Centre (AIFC), which has developed a comprehensive framework for digital asset investment.
Kazakhstan rose to prominence in the global bitcoin mining sector after China’s 2021 ban on the industry led miners to relocate, with Kazakhstan benefiting from its relatively low-cost coal-powered energy and crypto-friendly policies.
The AIFC’s regulatory clarity is seen as a key advantage, especially in a geopolitical climate where asset protection and regulatory independence are increasingly important. The AIFC enables licensed crypto exchanges, custodians, and investment products to operate legally under its oversight.
BETF’s structure includes in-kind settlements, a low total expense ratio, and aims to minimize tracking error against spot bitcoin prices—making it attractive for both local and international investors.
Fonte Capital emphasized that the fund will allow both retail and institutional investors to gain bitcoin exposure without the burden of managing wallets or private keys. The ETF’s debut places Kazakhstan among a growing list of jurisdictions—including the U.S., Canada, and Hong Kong—that have approved spot bitcoin ETFs.
Fonte Capital, registered with the AIFC since 2022, manages multi-asset portfolios and sees BETF as a secure, transparent, and regulated gateway for investors looking to add bitcoin to their portfolios with confidence.
