Kazakhstan Launches Central Asia's First Bitcoin Spot ETF

BlockBeats News, August 13th — According to CoinDesk, Kazakhstan's asset management company Fonte Capital launched the first Bitcoin Exchange-Traded Fund (ETF) in the Central Asia region on August 13th on the Astana International Exchange (AIX). The fund, traded under the ticker BETF, is price quoted in US dollars.

Each fund unit is backed by physical Bitcoin, held by the US licensed custody provider BitGo, and is insured for up to $250 million. BitGo utilizes measures such as offline cold storage and secure vaulting to ensure asset security.