Kazakhstan Launches Central Asia’s First Spot Bitcoin ETF with BitGo’s Custody

KEY FACTS: Kazakhstan has launched Central Asia’s first spot Bitcoin ETF, the Fonte Bitcoin Exchange Traded Fund (BETF), on the Astana International Exchange (AIX) on August 13, 2025, with U.S.-regulated BitGo providing custody for the fund’s Bitcoin assets. Managed by Fonte Capital and quoted in U.S. dollars under the ticker BETF, the ETF offers both institutional and retail investors regulated access to Bitcoin’s price movements without the need for direct crypto ownership. This milestone, supported by the Astana International Financial Centre’s progressive regulatory framework, underscores Kazakhstan’s ambition to become a regional hub for digital assets. However, reliance on a U.S.-based custodian like BitGo has sparked discussions about balancing global credibility with local financial sovereignty. ___  Source; Bitgo/ X ___ # Kazakhstan Launches Central Asia’s First Spot Bitcoin ETF with BitGo’s Custody Kazakhstan has launched the region’s first spot Bitcoin exchange-traded fund (ETF) on the Astana International Exchange (AIX), with U.S.-regulated crypto custodian BitGo safeguarding the fund’s assets. The Fonte Bitcoin Exchange Traded Fund (BETF), managed by Astana-based Fonte Capital, debuted on August 13, 2025, under the ticker BETF, offering both institutional and retail investors regulated access to Bitcoin. This development shows Kazakhstan’s growing role as a hub for digital assets and highlights the increasing integration of cryptocurrency into global financial markets. > Kazakhstan is entering a new era for digital assets. Fonte Capital has introduced Central Asia’s first spot bitcoin ETF on the Astana International Exchange. The BETF fund is physically backed by bitcoin, with custody from BitGo Trust. Through secure, U.S.-regulated cold storage, BitGo is helping deliver institutional-grade bitcoin access to investors in the region for the first time. [Source](https://x.com/BitGo/status/1955524731962265786) The launch of the Fonte Bitcoin ETF on the AIX, a stock exchange operating within the framework of the Astana International Financial Centre (AIFC), is a significant step forward for Kazakhstan’s ambitions to become a leader in digital finance. The AIX, established in 2017 and backed by prominent institutions such as the AIFC, the Shanghai Stock Exchange, the Silk Road Fund, and Nasdaq, has positioned itself as a forward-thinking platform for innovative financial products. With approximately $130 million in monthly trading volume as of July 2025, the AIX may pale in comparison to global giants like Nasdaq, which recorded $73 billion in European equity trades last month, but its role in introducing regulated crypto products is groundbreaking for the region. The BETF, quoted in U.S. dollars, is designed to track the price dynamics of Bitcoin by directly holding the cryptocurrency, offering investors exposure to Bitcoin’s price movements without the complexities of managing digital wallets or navigating crypto exchanges. Unlike Bitcoin futures ETFs, which invest in derivatives and may deviate from Bitcoin’s spot price, the BETF is physically backed by Bitcoin held in custody by BitGo Trust, a U.S.-based subsidiary of BitGo. This structure ensures a closer correlation with Bitcoin’s market price and simplifies access for a wide range of investors, including retail participants, as the fund is registered as non-exempt under AIFC regulations. The AIX emphasized the fund’s accessibility, stating that the Fund is registered as non-exempt, making it accessible to a broad range of investors, including retail participants. This inclusivity is particularly significant in a region where traditional financial systems have often left gaps, limiting access to modern investment opportunities. The offering of a regulated, locally listed product, the BETF provides a bridge for both institutional and retail investors to participate in the digital economy. BitGo, a crypto custodian with a pending initial public offering (IPO) application in the United States, brings significant credibility to the BETF. Known for providing custody services to major U.S. Bitcoin ETF issuers such as ARK Invest and 21Shares, BitGo’s involvement marks its first foray into providing institutional-grade Bitcoin access to investors in Central Asia. In a statement posted on X, BitGo celebrated the launch, stating, “Kazakhstan is entering a new era for digital assets.” The company highlighted its use of “secure, U.S.-regulated cold storage” to safeguard the ETF’s Bitcoin holdings, reinforcing investor confidence through its established reputation and robust security protocols. ___  Source: AIX ___ Kazakhstan’s launch of the BETF aligns with its broader push to become a regional leader in digital assets. The country has already established itself as a major player in cryptocurrency mining, thanks to its abundant energy resources and favorable regulatory environment. In April 2025, Kazakhstan’s Prime Minister Olzhas Bektenov announced plans to liberalize digital asset circulation and expand platforms for crypto-related activities, including the development of “CryptoCity,” a pilot zone where cryptocurrencies can be used for payments. The AIFC has also been proactive in creating a legal framework for digital assets, allowing licensed crypto exchanges, custodians, and investment products to operate within its jurisdiction. This regulatory clarity has positioned Kazakhstan as a trailblazer in Central Asia, where neighboring countries like Uzbekistan and Kyrgyzstan have adopted more cautious approaches to crypto. The AIFC’s framework is designed to shield assets from international sanctions while reducing dependence on foreign issuers, making it an attractive hub for crypto innovation. Additionally, the AIFC is exploring the development of crypto banking infrastructure, which could further integrate digital assets into Kazakhstan’s financial system. The launch of the BETF is expected to attract fresh capital inflows and enhance liquidity in the region’s crypto market. Analysts speculate that the BETF could pave the way for more diverse crypto products in Central Asia, such as Ethereum-based ETFs or decentralized finance (DeFi) instruments. --- --- Information Sources: - [BitGo/ X](https://x.com/BitGo/status/1955524731962265786) - [AIX](https://aix.kz/aix-marks-digital-finance-milestone-with-first-bitcoin-public-etf-listing-in-central-asia-2/) - [Cointelegraph](https://cointelegraph.com/news/bitgo-spot-bitcoin-etf-kazakhstan-launch) ---  ___ _If you found the article interesting or helpful, please hit the upvote button and share for visibility to other hive friends to see. More importantly, drop a comment below. Thank you!_ ## This post was created via INLEO. What is INLEO? > [INLEO's](https://leofinance.io/) mission is to build a sustainable creator economy that is centered around digital ownership, tokenization, and communities. It's built on Hive, with linkages to BSC, ETH, and Polygon blockchains. The flagship application, [Inleo.io](https://leofinance.io), allows users and creators to engage & share micro and long-form content on the Hive blockchain while earning cryptocurrency rewards. --- --- ### Let's Connect Hive: [inleo.io/profile/uyobong/blog](https://inleo.io/signup?referral=uyobong) Twitter: https://twitter.com/Uyobong3 Discord: uyobong#5966 ---