Kazakhstan Central Bank Plans $350M Crypto-Linked Investment Portfolio
Kazakhstan’s central bank is preparing to allocate up to $350 million from its gold and foreign currency reserves into a new investment portfolio linked to the digital asset sector.
During a monetary policy briefing in Almaty on Friday, central bank governor Timur Suleimenov said officials are designing a list of potential investment instruments that will extend beyond direct cryptocurrency purchases.
According to Suleimenov, the planned portfolio will include exposure to assets that track or benefit from developments in the crypto ecosystem, but will not be limited to holding digital tokens themselves.
“We are currently developing a list of instruments in which we will invest. This includes not only cryptocurrency itself,” he explained.
The proposed investment strategy could involve equity stakes in technology firms operating in the crypto and digital finance space, as well as exchange-traded funds and other financial instruments that move in tandem with crypto market trends.
Deputy chair Aliya Moldabekova clarified that the central bank does not intend to commit a significant portion of the portfolio directly to cryptocurrencies. Instead, the focus will likely be on companies and infrastructure supporting the digital asset industry.
She added that the program could launch as soon as April or May once officials finalize the list of eligible investments and select suitable companies involved in blockchain and digital asset services.
Kazakhstan has been gradually expanding its involvement in the crypto sector over the past several years. In June, the government revealed plans to establish a national cryptocurrency reserve funded by digital assets seized in criminal investigations as well as coins generated through state-supported mining operations.
Later in November, authorities also floated the idea of creating a separate crypto investment fund valued between $500 million and $1 billion. That initiative would primarily target exchange-traded funds and companies connected to the crypto economy rather than directly holding assets like Bitcoin.
Kazakhstan’s central bank currently maintains substantial financial buffers. As of Feb. 1, the institution reported gold and foreign exchange reserves totaling $69.4 billion, while the country’s national fund held assets worth $65.2 billion.
The new crypto-linked portfolio would represent a relatively small portion of those reserves but could signal Kazakhstan’s continued effort to integrate digital assets into its broader financial strategy.