Astana Exchange Lists Central Asia’s First Spot Bitcoin ETF

Key Takeaways

• The Astana International Exchange has listed Asia’s first spot Bitcoin ETF.
• The fund is managed by Fonte Capital and safeguarded by U.S.-based BitGo Trust.
• Despite these advancements, cryptocurrency adoption in Kazakhstan remains low.

An exchange from Astana, the capital of Kazakhstan, has announced it is listing Asia’s first spot Bitcoin ETF.

The Fonte Bitcoin Exchange Traded Fund OEIC (BETF) will now be listed on the Astana International Exchange (AIX), the fund announced on Wednesday, August 13.

Asia’s First Spot Bitcoin ETF

BETF, managed by asset manager Fonte Capital, will offer indirect investment in Bitcoin for institutional investors.

BETF’s assets are being safeguarded by BitGo Trust, a U.S. crypto custodian, marking the first time the firm is providing institutional-grade Bitcoin access in Central Asia.

“Kazakhstan is entering a new era for digital assets,” the firm said in a statement.

BitGo Trust, a subsidiary of BitGo, is known for providing Bitcoin custody to high-profile ETF issuers across the U.S., including Cathie Wood’s ARK Invest fund.

Regulatory Leeway

In 2024, the Astana International Financial Centre (AIFC), the leading financial regulator in Central Asia, allowed licensed crypto exchanges and investment products to operate within the area.

Following a pilot project involving several crypto exchanges and second-tier banks, full operations of licensed crypto exchanges within the AIFC were permitted from April.

In May 2025, Kazakhstan’s central bank announced plans for a deep legislative framework to govern the circulation of digital assets.

The two-part legislation aims to clearly define the legal status of digital assets, along with the processes for their issuance and use.

As part of these reforms, the central bank proposed creating a state-run digital reserve to hold confiscated crypto assets.

Authorities also outlined plans for a regulatory sandbox , enabling controlled experimentation with new technologies.

A Long Way To Go

Despite making moves towards embracing crypto, Kazakhstan still has a long way to go in terms of widespread adoption.

According to the Crypto Council for Innovation , as of 2024, only 8% of citizens in the country owned crypto, and the country’s global adoption position was 57th.

The alliance estimated that currently only 5% of crypto investors use regulated platforms, with an estimated 90% of cryptocurrency transactions occurring outside the legal sector.

Law enforcement reportedly closed 36 unlicensed exchanges throughout 2024, with a combined revenue of $117.24 million.

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