Kazakhstan’s Fonte Capital launches first place in Bitcoin (BTC) of Central Asia (BTC) ETF
Kazakhstan, one of Bitcoin’s largest mining countries in the world, has become the location of the first place in Central Asia of Bitcoin
Funds exchanged by the exchange (ETF).
Astana -based Fonte Capital says Fonte Bitcoin Exchange Traded Fund Oeic (Betf) Trade will start August 13 at Astana International Exchange (Aix). ETF will be priced at dollars.
Kazakhstan shot down bitcoin mining rankings after China banned the industry in 2021, pushing operations overseas. Kazakhstan benefits from rich coal-powered electricity and favorable regulations.
Unlike the records exchanged by the exchange, Betf holds bitcoin directly, with caution provided by the US-Regulated Custodian Bitgo that ensures up to $ 250 million handles. BitGo uses offline cold storage and secure vaults – steps designed to ensure both institutional investors and retail consumers who are cautious of hacks and counterparts.
The fund is controlled by the Astana International Financial Center (AIFC). AIFC seeks to build that position by introducing a legal framework for digital possession, allowing licensed exchanges, carers and investment products to operate within its constituents.
Neighbors in Central Asia, such as Uzbekistan and Kyrgyzstan, have made a more careful approach, leaving Kazakhstan as the most open market for crypto investment in the region. For a country seeking to vary -breaking its financial sector, a regulated crypto product can draw foreign capital and combine local markets into the wider digital asset economy
The ETF structure allows for in-kind repairs and aims to keep the total cost ratio low while reducing the monitoring error against bitcoin price.
Betf’s debut is aligned with Kazakhstan with a growing global roster of constituents – including the US, Canada and Hong Kong – that have approved Bitcoin ETF areas. In practice, this means that a Almaty or London investor can buy fund shares via AIX without having to manage private keys or navigate crypto exchanges.
Fonte Capital, registered with AIFC in 2022, manages a variety of investment funds and Betf says investors will provide a straightforward way to add Bitcoin to a portfolio while maintaining “a high level of control and reliability.”
