Kazakhstan Launches Central Asia's First Spot Bitcoin ETF

Kazakh asset management company Fonte Capital launched Central Asia's first spot Bitcoin exchange-traded fund (ETF) on the Astana International Exchange (AIX) on August 13. The fund, trading under the ticker symbol BETF, is denominated in US dollars.

Each fund share is backed by physical Bitcoin, held in custody by BitGo, a licensed US custodian, and backed by up to $250 million in insurance. BitGo employs offline cold storage and secure vaults to ensure asset security. (CoinDesk)