Fonte Capital Launches Central Asia’s First Spot Bitcoin ETF on Astana Exchange
Kazakhstan has become the first country in Central Asia to launch a spot bitcoin ETF, further cementing its role as a regional crypto hub.
Astana-based Fonte Capital debuted the Fonte Bitcoin Exchange Traded Fund OEIC (BETF) on August 13, listing it on the Astana International Exchange (AIX). The dollar-denominated fund is physically backed by bitcoin and provides regulated exposure to BTC for investors across Central Asia and beyond.
Unlike exchange-traded notes, BETF holds actual bitcoin, custodied by U.S.-regulated firm BitGo, which insures up to $250 million in assets. The coins are stored in secure, offline cold storage, designed to minimize counterparty risk and appeal to both retail and institutional investors.
Kazakhstan, now a global leader in bitcoin mining following China’s 2021 mining ban, is leveraging its crypto-forward regulatory environment to attract digital asset investment. The ETF is regulated under the Astana International Financial Centre (AIFC), which has positioned itself as a crypto-friendly jurisdiction with a clear legal framework for digital asset service providers.
Neighboring countries such as Uzbekistan and Kyrgyzstan have taken a more cautious stance, making Kazakhstan the clear frontrunner in regional crypto adoption. The ETF launch could open doors for increased foreign capital inflows and deeper integration of Kazakhstan’s financial system into the global crypto economy.
The BETF supports in-kind settlement, maintains a low total expense ratio, and is designed to closely track bitcoin’s market price—factors aimed at enhancing investor efficiency and trust.
Fonte Capital, which registered with AIFC in 2022, said the product allows investors a simple and reliable way to gain bitcoin exposure through traditional market infrastructure, without managing wallets or using crypto exchanges.
By joining the ranks of countries like the U.S., Canada, and Hong Kong in offering spot bitcoin ETFs, Kazakhstan signals its intent to be a serious player in the global digital asset landscape.
