Kazakhstan Launches Central Asia's First Bitcoin ETF

According to BlockBeats, Kazakhstan's asset management firm Fonte Capital has introduced the first spot Bitcoin exchange-traded fund (ETF) in Central Asia on the Astana International Exchange (AIX).

The ETF, trading under the code BETF, is denominated in U.S. dollars.

Each share of the fund is backed by physical Bitcoin, with custody services provided by the U.S.-licensed custodian BitGo.

The fund offers insurance coverage of up to $250 million. BitGo employs offline cold storage and secure vault measures to ensure asset safety.

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