Kazakhstan’s central bank revealed plans to allocate up to $350 million from its gold and foreign exchange reserves to investments linked to cryptocurrencies and digital assets.
The bank’s governor, Timur Suleimanov, said the institution is developing a list of acceptable investments that will extend beyond direct cryptocurrency holdings, according to a Reuters report on Friday.
The country became a big bitcoin mining hub after China’s 2021 mining ban pushed operators overseas. In 2025, Astana-based Fonte Capital introduced Central Asia’s first spot bitcoin ETF (BETF), offering regulated, physically backed exposure to bitcoin.
The investment strategy is expected to include shares in high-tech companies linked to digital assets, cryptocurrency infrastructure companies and index funds whose performance tracks the crypto markets.
Deputy Central Bank Governor Aliya Moldabekova said the investments would be made in April and May, stressing that the authorities are taking a measured approach.
“We are not talking about any big investment in cryptocurrencies,” Moldabekova said, according to Reuters. “We are currently selecting companies that deal with digital assets, for example those involved in cryptocurrency infrastructure.”
The allocation constitutes only a small part of the country’s total reserves. As of February 1, the central bank held $69.4 billion in gold and foreign exchange reserves, while the country’s national fund, which accumulates oil revenues, had $65.23 billion in assets, according to central bank data.
