Astana International Exchange (AIX) has launched the first spot Bitcoin exchange-traded fund (ETF) in Kazakhstan managed by Fonte Capital, with assets safeguarded by BitGo.
Launch of the Bitcoin ETF
The fund, called the Fonte Bitcoin Exchange Traded Fund (BETF), was launched on October 25 and offers investors indirect exposure to Bitcoin. It is designed for both retail and institutional investors.
BitGo's Role in Asset Custody
The assets are held by BitGo Trust, a subsidiary of BitGo known for servicing U.S. Bitcoin ETFs from issuers such as ARK Invest and 21Shares. BitGo has stated that this represents a 'new era' for the digital asset market in Central Asia.
Kazakhstan's Crypto Market
Founded in 2017, AIX operates within the Astana International Financial Centre framework. The exchange handles around $130 million in monthly trades. The launch of the ETF reflects Kazakhstan's growing ambitions in digital finance and highlights the need for local custody solutions.
The launch of the first spot Bitcoin ETF in Kazakhstan opens new opportunities for local investors and underscores the country's increasing interest in crypto-finance.
