By Dr. Abdulrahim Ibrahim Abdulwhaid
Astana – Dubai: In a landmark moment for Central Asia’s financial landscape, the Astana International Exchange (AIX) has welcomed the debut of the region’s very first spot Bitcoin Exchange Traded Fund (ETF). The fund, Fonte Bitcoin Exchange Traded Fund OEIC PLC (BETF), represents a significant step in bringing regulated cryptocurrency investment to Kazakhstan and beyond.
The Astana International Exchange (AIX) has announced the listing of Central Asia’s very first spot Bitcoin Exchange-Traded Fund. The fund, named Fonte Bitcoin Exchange Traded Fund (BETF), marks a major milestone in integrating digital assets into regulated financial markets.
The ETF, denominated in US dollars, offers both institutional and retail investors direct exposure to Bitcoin price movements without the need to physically hold the cryptocurrency or manage digital wallets.
BitGo Trust
The fund is physically backed by Bitcoin, with custody provided by BitGo Trust, a licensed US-based digital asset custodian. Assets are insured up to USD 250 million and stored securely in cold wallets.
According to AIX, this launch is supported by the robust legal framework of the Astana International Financial Centre (AIFC), which is based on English common law, ensuring transparency and strong investor protection.
This development is considered a landmark in Kazakhstan’s efforts to establish itself as a leading destination for digital finance. While the country is already one of the world’s largest Bitcoin mining hubs, it is now shifting focus toward innovative financial instruments that foster sustainable growth and attract foreign investment.
The launch of BETF is expected to draw fresh capital inflows, support the expansion of fintech in the region, and strengthen investor confidence in Kazakhstan’s regulatory environment for digital assets.
Managed by Fonte Capital Ltd, BETF provides investors with a transparent and regulated gateway to Bitcoin’s price performance—without the need to hold the digital asset directly. The fund operates as a Non-Exempt entity under AIFC jurisdiction, making it accessible to both institutional and retail investors eager to explore this emerging asset class.
Security and Efficiency at the Core
BETF is underpinned by physical Bitcoin securely stored with a licensed custodian, ensuring both enhanced security and operational efficiency. The fund is meticulously structured to track Bitcoin’s price movements closely, with an annual management fee designed to remain competitive, making it an appealing option for diverse investment portfolios.
Kazakhstan’s Role in Digital Finance
This milestone aligns seamlessly with the Astana International Financial Centre’s (AIFC) vision to position Kazakhstan as a pioneering hub for digital finance and investment in Central Asia. By introducing a regulated, transparent, and accessible cryptocurrency investment product, AIX is opening new avenues for local and international investors alike.
Birzhan Astayev, Chief of Markets and Products at AIX, remarked: “The launch of Kazakhstan’s first spot Bitcoin ETF signifies a new era for our capital markets. By integrating digital assets into mainstream investing, we are connecting global investors with opportunities in Central Asia while upholding the highest standards of governance and market integrity. This milestone underscores Kazakhstan’s ambition to lead the region in regulated digital finance.”
Yerzhan Mussin, CEO of Fonte Capital Ltd, added: “Our Fund offers investors a streamlined and secure way to include Bitcoin in their portfolios without the complexities of direct custody. We anticipate that BETF will become a sought-after instrument for those seeking portfolio diversification and exposure to an emerging class of financial products.”
Founded in 2017 as part of the Astana International Financial Centre framework, AIX has been supported by stakeholders including the AIFC, Shanghai Stock Exchange, the Silk Road Fund, and NASDAQ, which provides the trading platform. Operating under English Law principles, AIX provides a secure and transparent environment for capital market development. Its mission encompasses supporting private and public businesses, developing specialized segments for mining enterprises, and facilitating infrastructure projects under the Belt and Road Initiative.
The AIFC itself serves as a premier financial hub connecting Eastern Europe and Central Asia with global capital. Since its establishment in 2018, it has attracted over USD 15.9 billion in investments, hosting more than 4,000 companies from over 80 countries, including the USA, UK, China, Turkiye, South Korea, and Singapore. The AIFC combines international best practices with innovative approaches, creating
