Overview
- The Fonte Bitcoin Exchange Traded Fund began trading on the Astana International Exchange on Aug. 13 under the ticker BETF as Central Asia’s first physically backed spot Bitcoin ETF.
- The USD-quoted fund is managed by Fonte Capital with oversight from the Astana International Financial Centre’s regulatory framework.
- Custody is provided by US-regulated BitGo Trust, which secures the fund’s Bitcoin in offline cold storage vaults with insurance coverage up to $250 million.
- The ETF’s in-kind settlement structure aims to minimize tracking error; its low expense ratio lets investors gain Bitcoin exposure without managing private keys.
- Observers say the launch cements Kazakhstan’s position as Central Asia’s leading crypto hub; questions remain over developing domestic custody infrastructure for long-term financial sovereignty.