BitGo, a US-regulated crypto custodian, is set to provide safekeeping for Central Asia’s inaugural spot Bitcoin exchange-traded fund (ETF), which launched on the Astana International Exchange in Kazakhstan. The Fonte Bitcoin Exchange Traded Fund (BETF), managed by AIFC-registered Fonte Capital, offers investors indirect access to Bitcoin while being physically backed by Bitcoin held under BitGo’s custody. This marks a significant milestone, as it introduces institutional-grade Bitcoin access to investors in Central Asia. However, experts warn that relying on a single global custodian like BitGo highlights concerns about infrastructure concentration. They urge the development of local custodians to bolster financial sovereignty. The launch of BETF, which comes amidst a modest trading volume for AIX, aims to bridge gaps left by traditional finance and grant regulated Bitcoin access to previously excluded investors. This may facilitate broader participation in the digital economy, signaling a shift in Kazakhstan’s financial landscape towards embracing digital assets.

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