Kazakhstan wants to use state funds to buy cryptocurrency assets. The central bank governor stated that they are studying the possibility of investing part of their gold foreign exchange reserves and national fund into the crypto industry, including ETFs, crypto stocks, or digital currencies themselves. This is not a sudden impulse, but rather a practice inspired by sovereign funds from Norway, the Middle East, and others. The Kazakh side is even considering establishing a national-level cryptocurrency reserve, incorporating confiscated digital currencies into it. Such assets offer attractive returns but are highly volatile. Although Kazakhstan is cautious, it has already shown a strong willingness to enter the market. Institutional funds may face another wave of momentum.