BitGo, a US-regulated crypto custodian, will safeguard belongings for Central Asia’s first spot Bitcoin exchange-traded fund (ETF), which debuted Wednesday on the Astana Worldwide Trade in Kazakhstan.

The Astana Worldwide Trade (AIX), a inventory change working inside the Astana Worldwide Monetary Centre (AIFC) framework, introduced the itemizing of the Fonte Bitcoin Trade Traded Fund (BETF) on Wednesday.

Managed by AIFC-registered asset supervisor Fonte Capital, BETF gives oblique funding entry to Bitcoin (BTC) to a variety of traders, together with retail members, AIX stated.

The BETF fund is bodily backed by Bitcoin held in custody of BitGo Belief, a US-based subsidiary of BitGo, which is understood for offering BTC custody to main US Bitcoin ETF issuers, together with ARK Make investments and 21Shares.

US-regulated chilly storage for Kazakhstan

BitGo’s involvement in Fonte Capital-issued spot Bitcoin ETF marks the primary time for the platform to supply institutional-grade Bitcoin entry to traders in Central Asia, the corporate stated in a press release on X.

“Kazakhstan is entering a new era for digital assets,” the corporate stated, including that it’ll supply its custody companies by “secure, US-regulated cold storage.”

Whereas BitGo publicly acknowledged its function within the new spot Bitcoin ETF, neither Fonte Capital nor the Astana Worldwide Trade talked about the custodian of their bulletins. Cointelegraph reached out to AIX, Fonte and BitGo for remark however had not acquired a response by publication.

BitGo’s function is a “double-edged sword”

The rising function of platforms like BitGo in spot Bitcoin merchandise worldwide is a double-edged sword, in line with Shady El Damaty, digital identification innovator and co-founder of human.tech by Holonym.

“On one hand, you’re getting institutional-grade custody right out of the gate, which matters for investor confidence. On the other hand, it highlights how concentrated this layer of infrastructure still is,” he informed Cointelegraph.

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El Damaty highlighted the rising want for native crypto merchandise in creating markets, suggesting that counting on a single international participant isn’t a long-term resolution, but it surely nonetheless will get merchandise like spot Bitcoin ETFs to market quicker.

“BitGo’s involvement gives Kazakhstan an instant credibility boost,” he stated, including:

“Ideally, countries should be working toward building local custodians that meet the same security standards. That way, you’re not just importing financial infrastructure, you’re growing it at home, giving the market both sovereignty and resilience.”

Bakhrom Saydulloev, a neighborhood crypto insider and product lead at Mercuryo, echoed El Damaty’s view, emphasizing that sturdy native custody is essential for the monetary sovereignty of jurisdictions like Kazakhstan.

“But right now using a proven global custodian is the fastest route to credibility and foreign capital inflows,” Saydulloev informed Cointelegraph.

Impression available on the market

Based in 2017, AIX is backed by the AIFC, the Shanghai inventory change, the Silk Street Fund and Nasdaq, dealing with round $130 million in month-to-month trades as of July 2025.

Whereas AIX volumes are modest in contrast with giants like Nasdaq — which noticed $73 billion in European fairness trades final month — the BETF launch is important because it offers regulated Bitcoin entry to traders who’ve traditionally been excluded.

“Until now, there was no regulated, locally listed product giving investors exposure to it,” Saydulloev stated, stressing that Kazakhstan has emerged as a significant participant within the crypto business, together with cryptocurrency mining.

“In regions where traditional finance has left huge gaps, tools like this can be a bridge, not just for investors, but for everyday people to start participating in the digital economy,” El Damaty stated.