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Speaking at an interest rate briefing in Almaty, Governor Timur Suleimenov said the National Bank of Kazakhstan is compiling a list of suitable investments that will be outside the scope of direct cryptocurrency holdings.
“We are currently developing a list of instruments in which we will invest. This includes not only the cryptocurrency itself,” said Suleimenov.
He added that the National Bank of Kazakhstan is also exploring investing in shares of high-tech companies related to crypto and digital financial assets, as well as index funds and other instruments that tend to move into crypto markets.
The initiative, funded by the country’s gold and foreign exchange reserves, which stood at about $70 billion as of Feb. 1, marks Kazakhstan’s effort to diversify away from traditional resources of value while committing only a relatively small portion of its capital.
 
The Deputy Head of the Central Bank Aliya Moldabekova said that the investments will be made in April and May and emphasized that the authorities are acting cautiously.
“We are not talking about big investments in cryptocurrencies,” Moldabekova said, according to Reuters. “We now select companies that deal with digital assets, such as those involved in cryptocurrency infrastructure.”
Kazakhstan is stepping up its digital asset game
The move comes as Kazakhstan ramps up its efforts to integrate digital assets into the national financial system.
Kazakhstan has become a major Bitcoin mining hub after China’s 2021 crypto mining ban forced operators to move abroad. In 2025, Astana’s Fonte Capital launched the first Bitcoin ETF (BETF) in Central Asia, providing regulated, physically-backed exposure to primary cryptocurrencies.
In June 2025, Kazakhstan announced plans to create a national cryptocurrency reserve funded by seized digital assets and state-backed mined coins.
As of November, authorities were also considering a separate crypto-reserve fund worth between $500 million and $1 billion. The initiative will focus on investing in exchange-traded funds and crypto-focused companies instead of directly holding Bitcoin or other tokens, using the proceeds of assets seized from abroad or repatriated.
