Kazakhstan launches Central Asia's first spot Bitcoin ETF

ChainCatcher news, according to CoinDesk, Kazakhstan's asset management company Fonte Capital launched the first spot Bitcoin exchange-traded fund (ETF) in Central Asia on August 13 at the Astana International Exchange (AIX). The fund is traded under the code BETF and is priced in US dollars.

Each fund share is backed by physical Bitcoin and is custodially managed by the U.S. licensed custodian BitGo, which provides insurance coverage of up to $250 million. BitGo employs measures such as offline cold storage and secure vaults to ensure asset safety.