Astana International Exchange Marks Digital Finance Milestone with First Bitcoin Public ETF Listing in Central Asia
Kazakhstan, one of the world’s largest bitcoin mining countries, has become the location of central Asia’s first spot bitcoin exchange-traded fund (ETF).
Astana-based Fonte Capital said the Fonte Bitcoin Exchange Traded Fund OEIC (BETF) will start trading Aug. 13 on the Astana International Exchange (AIX). The ETF will be priced in dollars.
Kazakhstan shot up the bitcoin mining rankings after China banned the industry in 2021, pushing operations abroad. Kazakhstan benefited from its abundant coal-powered electricity and favorable regulations.
Unlike exchange-traded notes, BETF holds the bitcoin directly, with custody provided by U.S.-regulated custodian BitGo that insures up to $250 million of holdings. BitGo uses offline cold storage and secure vaults — measures designed to reass...
