Fonte Capital, based in Kazakhstan, introduces Central Asia’s inaugural Spot Bitcoin ETF, with trading set to commence on August 13.

Fonte Capital, an investment manager located in Astana, is set to launch its Bitcoin exchange-traded fund (ETF) on Wednesday at the Astana International Exchange (AIX).

This marks Central Asia’s inaugural spot Bitcoin ETF, named the Fonte Bitcoin Exchange Traded Fund OEIC, which will commence trading on August 13 under the ticker BETF, priced in US dollars.

As per an official statement, the fund will mirror Bitcoin’s price movements by directly holding the cryptocurrency. The custodian for the fund will be the US-regulated BitGo Trust, while the Astana International Financial Centre (AIFC) will oversee its regulation.

“The Fund is registered as non-exempt, making it available to a wide array of investors, including retail participants,” the statement indicated.

AIFC’s Legal Framework for Digital Assets

The regulatory body has permitted licensed crypto exchanges, custodians, and investment products to function within its jurisdiction. Supporters of the agency assert that it can protect assets from being confiscated under international sanctions, while also reducing reliance on foreign issuers.

Moreover, the AIFC aims to establish a crypto banking framework in Kazakhstan. The Prime Minister mentioned in April that the country is currently drafting legislative changes to facilitate digital asset circulation and broaden platforms for crypto-related operations.

Kazakhstan is considering the introduction of crypto banks as part of its wider initiative to create a sustainable and regulated digital asset ecosystem.#Kazakhstan #Bitcoinhttps://t.co/egghK92tqY

— Cryptonews.com (@cryptonews) April 30, 2025

“The establishment of such institutions will generate a demand for new professionals, especially in compliance, blockchain analytics, and anti-money laundering, and will also enhance the liquidity of both fiat and digital assets within the AIFC,” Prime Minister Olzhas Bektenov stated at that time.

Additionally, the country is planning to introduce “CryptoCity,” a pilot area where cryptocurrencies can be utilized for purchasing goods and services.

In contrast, neighboring Central Asian countries, including Uzbekistan and Kyrgyzstan, have adopted a more cautious stance towards cryptocurrencies.

Kazakhstan Joins Global Crypto ETF Roster

With the launch of the BETF fund, Kazakhstan aligns itself with an increasing number of global jurisdictions such as the US and Hong Kong, which have already authorized spot Bitcoin ETFs.

The ETF listing on AIX provides regional and international investors with regulated access to BTC, potentially leading to new capital inflows. Furthermore, investors can acquire shares in the fund “without the complications related to holding and transferring the underlying asset,” the announcement noted.

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