Kazakhstan’s central bank has revealed plans to allocate up to $350 million of its gold and foreign exchange reserves to investments related to cryptocurrencies and digital assets.
The bank’s governor, Timur Suleimanov, said the institution was developing a list of acceptable investments, which would extend beyond direct holdings of cryptocurrencies, according to a Reuters report published on Friday.
The country has become a major bitcoin mining hub after China’s 2021 mining ban pushed operators overseas. In 2025, Astana-based Fonte Capital launched Central Asia’s first bitcoin spot ETF (BETF), providing regulated, physically-backed exposure to bitcoin.
The investment strategy should include stocks of high-tech companies related to digital assets, cryptocurrency infrastructure companies, and index funds whose performance tracks crypto markets.
Central bank Vice President Aliya Moldabekova said the investments would be made in April and May, emphasizing that authorities are taking a measured approach.
“We are not talking about a significant investment in cryptocurrencies,” Moldabekova said, according to Reuters. “We are currently selecting companies that deal with digital assets, for example those involved in cryptocurrency infrastructure.”
This allocation represents only a small part of the country’s overall reserves. As of February 1, the central bank held $69.4 billion in gold and foreign exchange reserves, while the country’s national fund, which accumulates oil revenues, held $65.23 billion in assets, according to central bank data.
