HIGHLIGHTS Kazakhstan's central bank has now invested some $190M in crypto funds, digital assets and Bitcoin-linked ETFs. The bank has allocated some $100M to crypto-focused funds and another $90M to digital assets and Bitcoin ETFs. Kazakhstan's $700M crypto reserve has deployed $190M but officials have not detailed its Bitcoin ETF holdings. Kazakhstan's central bank has invested approximately $190 million in cryptocurrency funds, digital assets, and Bitcoin-linked exchange-traded funds (ETFs). The investments include about $100 million allocated to crypto-focused funds and another $90 million in digital assets and Bitcoin-related ETFs.
Kazakhstan Central Bank Allocates $100M to Crypto Funds
National Bank official Batur Vakhidov disclosed the investments during a financial conference in Almaty on November 5. The money is said to come from Ege DeFi, Brevan Howard Digital and PDO, who offer exposure to the cryptocurrency markets.
The announcement 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, which is part of gold and foreign exchange reserves.
The bank then went on to expand its investment plans, taking in more funds from Kazakhstan's National Fund. But the authorities said it would not be all about buying tokens, as it would also feature financial instruments associated with cryptocurrencies.
Kazakhstan Allocates Another $90M to Crypto Assets and Bitcoin ETFs
In addition to the investments in the crypto funds, Kazakhstan has invested in digital assets and Bitcoin-related ETFs to the tune of about $90 million. The number includes both, but officials have not revealed how much has been invested in Bitcoin ETFs.
The investments are part of Kazakhstan's crypto NSR (National Strategic Reserve), totaling $700 million, which was launched in December 2025. By the end of October, some $190 million had been committed, Deputy Governor Binur Zhalenov said.
The reserve receives funding from two sources, with $350 million coming from central bank reserves and another $350 million from the National Fund. The National Investment Corporation is responsible for the handling of 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.
