Fonte Capital launches Central Asia’s first spot Bitcoin ETF
Kazakhstan has joined the global ETF race with a regulated, physically backed Bitcoin fund.
An official Ring the Bell ceremony took place in Astana to mark the start of trading of Central Asia’s first spot Bitcoin ETF — Fonte Bitcoin Exchange Traded Fund OEIC PLC (BETF), registered by the investment management company Fonte Capital Ltd. BETF offers investors a convenient and secure way to include Bitcoin in their portfolio without the need for direct ownership of the digital asset.
The fund is included in the Official List of the Astana International Exchange (AIX), with trading of its shares commencing on August 13, 2025, under the ticker BETF, quoted in U.S. dollars. BETF aims to precisely track the price performance of Bitcoin before fund expenses and liabilities. The fund is registered as non-Exempt, making it accessible to a wide range of investors, including retail participants.
Bitcoin is the first digital currency that continues to attract sustained interest from investors worldwide. Its fundamental value is determined by a fixed supply cap of 21 million coins. Over the past decade, it has maintained its status as a global, decentralized asset of strategic importance.
Amid growing interest in digital assets from leading global institutional market players, Fonte Capital Ltd presents BETF as an investment vehicle that provides regulated access to Bitcoin and offers key advantages over existing alternatives, including a low management fee of 0.75% per annum of the fund’s net asset value and the possibility of in-kind settlements.
“The launch of BETF is an important step for Kazakhstan and Central Asia towards building a transparent and regulated crypto ecosystem,” said Yerzhan Mussin, CEO of Fonte Capital.
One of BETF’s key advantages is its registration under the jurisdiction of the Astana International Financial Centre (AIFC), which reduces the risk of asset freezes in the event of international sanctions and removes reliance on foreign issuers. In addition, the fund’s structure helps optimize the total expense ratio (TER) and minimize tracking error. Unlike exchange-traded notes (ETNs), BETF carries no credit risk, as the shares are backed by the underlying asset — Bitcoin.
The fund’s underlying asset is held by licensed custodian BitGo Inc., which ensures a high level of protection and insurance coverage. Digital asset transactions are conducted on major licensed exchanges within the AIFC, including ByBit Limited, ATAIX Eurasia Ltd, and BN KZ Technologies Limited (Binance). The market maker for BETF is Freedom Broker.
“The launch of the Fonte Bitcoin ETF marks the beginning of a new stage in the development of digital asset investments. We are offering investors a convenient and secure way to include Bitcoin in their investment portfolios without the complexities associated with storing and transferring the underlying asset. We are confident that BETF will become a sought-after instrument for investors seeking to diversify their portfolios and gain access to a new category of financial instruments,” said Yerzhan Mussin, CEO of Fonte Capital Ltd.
Fonte Capital Ltd is an investment management company registered under the jurisdiction of the Astana International Financial Centre (AFSA-A-LA-2022-0004) in the Republic of Kazakhstan, holding a license for the management of collective investment funds. Fonte Capital Ltd offers its clients a diversified pool of investment instruments with access to various asset classes. https://fonte.kz/about