Fonte Capital’s ETF began trading on August 13, opening new opportunities for both regional and international investors.
Astana-based asset management company Fonte Capital has officially launched its spot Bitcoin ETF, the first in Central Asia.
The fund, named Fonte Bitcoin Exchange Traded Fund OEIC, started operations on August 13 on the Astana International Exchange (AIX) under the ticker BETF. The product is a U.S. dollar-denominated investment vehicle designed to closely track the price of bitcoin.
The fund’s structure assigns custody to BitGo Trust, a U.S.-regulated company, while oversight is provided by the Astana International Financial Centre (AIFC).
The Astana International Financial Centre has developed a dedicated legal framework for digital assets, enabling the operation of licensed exchanges, custody services, and investment products within its jurisdiction. Supporters of the initiative argue that this regulatory framework can provide protection from international asset seizures under sanctions, while reducing reliance on foreign issuers.
Last April, Prime Minister Olzhas Bektenov stated that Kazakhstan was working on legislative amendments to liberalize the circulation of digital assets and expand platforms for cryptocurrency-related activities.
The introduction of the region’s first spot Bitcoin ETF positions Kazakhstan alongside other leading global jurisdictions such as the United States and Hong Kong, which have already approved equivalent financial products.
Kazakhstan is also planning the launch of “CryptoCity,” a pilot zone where digital assets can be used for the payment of goods and services.
