Kazakhstan’s central bank has invested approximately $190 million in cryptocurrency funds, digital assets, and Bitcoin-linked exchange-traded funds (ETFs), according to details disclosed at a financial conference in Almaty on November 5.
National Bank official Batur Vakhidov said the investments include about $100 million allocated to crypto-focused funds and another $90 million in digital assets and Bitcoin-related ETFs. The funds providing exposure to cryptocurrency markets include Ege DeFi, Brevan Howard Digital, and PDO.
Central Bank Allocates $100M to Crypto Funds
The $100 million allocation to crypto-focused funds follows Kazakhstan’s earlier plans to invest reserve funds in cryptocurrency-related assets. In March, Central Bank Governor Timur Suleimenov unveiled a $350 million portfolio as part of the country’s gold and foreign exchange reserves.
The bank later expanded its investment plans by taking in more funds from Kazakhstan’s National Fund. Authorities said the strategy would not be limited to buying tokens but would also include financial instruments associated with cryptocurrencies.
Another $90M for Digital Assets and Bitcoin ETFs
In addition to the crypto fund investments, Kazakhstan has invested about $90 million in digital assets and Bitcoin-related ETFs. Officials have not revealed how much of that amount is specifically allocated to Bitcoin ETFs.
The investments are part of Kazakhstan’s crypto National Strategic Reserve (NSR), which totals $700 million and was launched in December 2025. By the end of October, some $190 million had been committed, according to Deputy Governor Binur Zhalenov.
The reserve receives funding from two sources: $350 million from central bank reserves and another $350 million from the National Fund. The National Investment Corporation is responsible for handling the portfolio, and officials are still evaluating investment opportunities and risks.
Kazakhstan Expands National Crypto Reserve Strategy
Kazakhstan has also outlined plans to expand the reserve using cryptocurrencies obtained through legal seizures and state-linked mining operations. The government previously proposed using confiscated digital assets to support its national reserve.
The National Bank confirmed in September 2025 that the reserve would operate under its National Investment Corporation. It also clarified that the separate Alem Crypto Fund was not authorized to manage Kazakhstan’s sovereign reserves.
Meanwhile, the country introduced broader digital asset regulations in May 2026, covering cryptocurrency exchanges, stablecoins, and tokenized financial instruments. Licensed service providers must operate under the applicable regulatory framework, while the central bank oversees activities outside the Astana International Financial Centre.
Zhalenov said the government is preparing legal arrangements for transferring seized cryptocurrencies and mining proceeds into the reserve. However, officials have not disclosed the precise Bitcoin ETF holdings or a timetable for deploying the remaining $510 million.
