Kazakhstan plans to establish a $500 million to $1 billion cryptocurrency asset reserve fund, which is set to officially launch by the end of this year or in January next year

According to Bloomberg, Kazakhstan is establishing a national cryptocurrency reserve fund valued between $500 million and $1 billion, with part of the funding sourced from assets seized and repatriated from abroad.

Central Bank Governor Timur Suleimenov stated that the fund's investments will include exchange-traded funds (ETFs) and stocks of companies involved in digital currency businesses. In an interview, he mentioned that the fund will be "very cautious about directly holding cryptocurrencies."

Suleimenov revealed that the fund is expected to officially launch by the end of the year or in January next year.