BitGo, a US-regulated crypto custodian, is providing custody services for Central Asia’s first spot Bitcoin exchange-traded fund (ETF), which launched on the Astana International Exchange in Kazakhstan. The Fonte Bitcoin Exchange Traded Fund (BETF), managed by Fonte Capital, offers investors indirect access to Bitcoin through assets held by BitGo. This is significant as it marks the first institutional-grade Bitcoin access for investors in Central Asia. BitGo emphasizes its secure, US-regulated cold storage services, although their mention was absent in the initial announcement by Fonte Capital and the exchange. Experts highlight the double-edged nature of relying on global custodians like BitGo, noting that while it brings instant credibility, it underscores a dependency on centralized infrastructure instead of fostering local custodians. The launch of BETF is crucial for increasing regulated Bitcoin access, providing opportunities for both investors and the general populace in Kazakhstan to engage in the digital economy, previously restricted by a lack of regulated products.

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