Kazakhstan central bank to invest $350 million worth of gold, forex reserves into digital assets

• Kazakhstan’s central bank plans to invest up to $350 million from its gold and foreign exchange reserves in assets linked to cryptocurrencies and digital assets.
• Officials say the strategy will focus on shares of high-tech and cryptocurrency infrastructure companies and crypto-linked index funds, with investments scheduled for April and May.
• The planned allocation is a small fraction of Kazakhstan’s $69.4 billion in reserves.

Kazakhstan’s central bank revealed plans to allocate up to $350 million from its gold and foreign exchange reserves to investments linked to cryptocurrencies and digital assets.

The bank's governor, Timur Suleimanov, said the institution is developing a list of acceptable investments, which will extend beyond direct cryptocurrency holdings, according to a Reuters report on Friday.

The country became a major bitcoin BTC$68,181.76 mining hub after China’s 2021 mining ban pushed operators abroad. In 2025, Astana-based Fonte Capital introduced central Asia’s first spot bitcoin ETF (BETF), offering regulated, physically backed exposure to bitcoin.

The investment strategy is expected to include shares of high-tech companies connected to digital assets, cryptocurrency infrastructure firms and index funds whose performance tracks crypto markets.

Deputy central bank chair 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 any large 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.”

The allocation represents only a small share of the country’s overall reserves. As of Feb. 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 the central bank data.

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