- National Bank of Kazakhstan formed a $350M portfolio from gold and FX reserves to invest in crypto-linked assets.
- Officials will prioritize index funds and shares of crypto and technology firms instead of large direct cryptocurrency purchases.
- Kazakhstan ranks third in global Bitcoin mining with about 13.22% of worldwide hashrate.
National Bank of Kazakhstan plans to invest up to $350 million in crypto-related assets after setting aside funds from its reserves. Governor Timur Suleimanov confirmed the move while outlining a diversification plan beyond gold holdings. The portfolio will draw from gold and foreign exchange reserves and target digital asset instruments.
Investment portfolio draws from national reserves
Suleimanov said the central bank already formed a portfolio worth up to $350 million. The funds come directly from gold and foreign exchange reserves. Officials are now preparing a list of instruments for the planned investments.
According to Suleimanov, the portfolio will not focus only on cryptocurrencies. Instead, the central bank will consider several digital asset-related financial instruments. These include index funds and shares linked to crypto industry companies.
Suleimanov added that the strategy may also include high-technology companies operating in the crypto sector. Such firms often show market dynamics similar to digital assets. As a result, the investment plan will combine direct and indirect exposure to crypto markets.
Central Bank Outlines Timeline for Digital Asset Investments
The next step involves selecting companies involved in digital asset infrastructure. Deputy chair Aliya Moldabekova said officials are currently reviewing potential candidates. She explained that authorities are not planning large direct cryptocurrency purchases.
Instead, they are focusing on businesses connected to the broader digital asset ecosystem. According to Moldabekova, the investment program could begin in April or May.
The timeline depends on completing the selection process for relevant companies. Those firms may include operators supporting trading platforms, infrastructure services, and other digital asset activities.
Kazakhstan Expands Role in Crypto and Mining Sector
Meanwhile, Kazakhstan already holds a major role in the global crypto mining industry. The country ranks third in Bitcoin mining activity worldwide. Current data shows Kazakhstan accounts for about 13.22% of the global monthly hashrate share.
In comparison, the United States and China hold roughly 37.84% and 21.11%. Kazakhstan also legalized crypto mining and trading nationwide last year. Previously, operations were limited to the Astana International Financial Center.
Authorities further launched the state-backed Alem Crypto Fund in partnership with Binance. The fund currently holds BNB, the native token of the BNB Chain. Officials described the initiative as part of a broader plan to build a $1 billion national crypto reserve.
