Kazakhstan’s Fonte Capital Introduces Pioneer Bitcoin Spot ETF BETF
Main Idea
Kazakh investment company Fonte Capital launched the first Bitcoin spot exchange-traded fund (BETF) in Central Asia, regulated by AIFC and backed by BitGo Trust, as Kazakhstan emerges as a global Bitcoin mining hub.
Key Points
1. Fonte Capital introduced the Fonte Bitcoin Exchange Traded Fund (BETF), the first Bitcoin spot ETF in Central Asia, trading on the Astana International Exchange (AIX).
2. Each BETF share is physically backed by Bitcoin, securely stored by US-based custodian BitGo Trust, with assets insured up to $250 million.
3. BETF is regulated by the Astana International Financial Centre (AIFC), offering protections against sanctions and reducing dependence on foreign issuers.
4. Kazakhstan has become a global leader in Bitcoin mining following China's 2021 mining ban, leveraging cheap energy and favorable regulation.
5. Investors can buy BETF shares on AIX without handling private keys or interacting directly with crypto exchanges, providing an easy way to invest in Bitcoin.
Description
Key Highlights: Fonte Capital’s BETF physically backs Bitcoin with custody by BitGo Trust. Fund regulated by AIFC, offering protections against sanctions and risks. Kazakhstan’s cheap energy and regulation aid rise as global Bitcoin mining hub. Kazakh investment company Fonte Capital has introduced the first Bitcoin spot exchange-traded fund in Central Asia — the Fonte Bitcoin Exchange Traded Fund OEIC (BETF). Trading in the fund began on August 13 on the Astana International Exchange (AIX) unde...
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