Kazakhstan's central bank plans to invest up to $350 million from its gold and foreign exchange reserves into a crypto-linked portfolio. Senior officials announced the first purchases are expected in April or May.
The National Bank is compiling a list of instruments for the portfolio, which may include direct cryptocurrency exposure, though the initial focus will be on listed assets tied to the sector. Investments could also encompass shares in digital asset infrastructure companies and related exchange-traded funds (ETFs).
The move represents a significant step for Kazakhstan in gaining market exposure to digital assets through reserve management. Approximately $350 million from Kazakhstan's National Fund is allocated for this portfolio, with a potential additional $350 million from the central bank's reserves for a separate sub-portfolio.
This initiative aligns with Kazakhstan's broader strategy to integrate digital assets into its financial system, following earlier considerations for a state crypto reserve and the launch of the state-backed Alem Crypto Fund.