Astana International Exchange (AIX) has unveiled the first Spot Bitcoin ETF in Central Asia, utilizing BitGo's custody services for asset security.
Launch of Spot Bitcoin ETF in Kazakhstan
The Astana International Exchange, operating within the Astana International Financial Centre framework, announced the listing of the Fonte Bitcoin Exchange Traded Fund (BETF) on Wednesday. This fund, managed by AIFC-registered asset manager Fonte Capital, provides investment access to Bitcoin for a wide range of investors, including retail participants.
BitGo's Role in Asset Custody
The BETF fund is physically backed by Bitcoin held in custody by BitGo Trust, a subsidiary of BitGo. This marks the first time BitGo has provided access to Bitcoin investments for investors in Central Asia. The company stated that Kazakhstan is entering a new era for digital assets with secure, US-regulated cold storage.
Market Impact and Future Prospects
Since its inception in 2017, AIX has handled around $130 million in monthly trades. The launch of BETF is significant as there was previously no regulated product in Kazakhstan offering exposure to Bitcoin. Experts emphasize that this initiative could serve as a bridge for both investors and everyday citizens to engage in the digital economy.
The launch of the first Spot Bitcoin ETF in Kazakhstan, backed by BitGo, represents an important step towards creating institutional access to crypto assets in Central Asia and fostering regional financial stability.
