Key Takeaways
- The Astana International Exchange has listed Asia’s first spot Bitcoin ETF.
- The fund is managed by Fonte Capital and safeguarded by U.S.-based BitGo Trust.
- Despite these advancements, cryptocurrency adoption in Kazakhstan remains low.
An exchange from Astana, the capital of Kazakhstan, has announced it is listing Asia’s first spot Bitcoin ETF.
The Fonte Bitcoin Exchange Traded Fund OEIC (BETF) will now be listed on the Astana International Exchange (AIX), the fund announced on Wednesday, August 13.
Asia’s First Spot Bitcoin ETF
BETF, managed by asset manager Fonte Capital, will offer indirect investment in Bitcoin for institutional investors.
BETF’s assets are being safeguarded by BitGo Trust, a U.S. crypto custodian, marking the first time the firm is providing institutional-grade Bitcoin access in Central Asia.
“Kazakhstan is entering a new era for digital assets,” the firm said in a statement.
BitGo Trust, a subsidiary of BitGo, is known for providing Bitcoin custody to high-profile ETF issuers across the U.S., including Cathie Wood’s ARK Invest fund.
Regulatory Leeway
In 2024, the Astana International Financial Centre (AIFC), the leading financial regulator in Central Asia, allowed licensed crypto exchanges and investment products to operate within the area.
Following a pilot project involving several crypto exchanges and second-tier banks, full operations of licensed crypto exchanges within the AIFC were permitted from April.
In May 2025, Kazakhstan’s central bank announced plans for a deep legislative framework to govern the circulation of digital assets.
The two-part legislation aims to clearly define the legal status of digital assets, along with the processes for their issuance and use.
As part of these reforms, the central bank proposed creating a state-run digital reserve to hold confiscated crypto assets.
Authorities also outlined plans for a regulatory sandbox, enabling controlled experimentation with new technologies.
A Long Way To Go
Despite making moves towards embracing crypto, Kazakhstan still has a long way to go in terms of widespread adoption.
According to the Crypto Council for Innovation, as of 2024, only 8% of citizens in the country owned crypto, and the country’s global adoption position was 57th.
The alliance estimated that currently only 5% of crypto investors use regulated platforms, with an estimated 90% of cryptocurrency transactions occurring outside the legal sector.
Law enforcement reportedly closed 36 unlicensed exchanges throughout 2024, with a combined revenue of $117.24 million.
Top Trending Crypto Articles
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
