Kazakhstan’s Central Bank Gets $190M Into Crypto — Because Gold Needed a Digital Sidekick

Kazakhstan’s central bank has invested approximately $190 million in cryptocurrency funds, digital assets and Bitcoin-linked exchange-traded funds (ETFs), according to National Bank official Batur Vakhidov.

The bank allocated about $100 million to crypto-focused funds offering exposure to the cryptocurrency market through Ege DeFi, Brevan Howard Digital and PDO. Vakhidov disclosed the investments during a financial conference in Almaty on November 5.

Another $90 million was allocated to digital assets and Bitcoin-related ETFs. The amount includes both categories, but officials have not detailed how much of the allocation is held in Bitcoin ETFs.

The investments form part of Kazakhstan’s $700 million crypto reserve, which has deployed $190 million so far. In March, Central Bank Governor Timur Suleimenov unveiled a $350 million portfolio that was part of the country’s gold and foreign exchange reserves. The bank later expanded its investment plans by taking in additional funds from Kazakhstan’s National Fund.

The strategy includes both direct cryptocurrency exposure and financial instruments associated with digital assets, rather than relying exclusively on token purchases.