Kazakhstan Central Bank Eyes Crypto-Linked Portfolio Investments

Kazakhstan’s central bank plans to begin investing as much as $350 million from its gold and foreign exchange reserves into a crypto-linked portfolio, with the first purchases expected in April or May, senior officials reportedly said during a Friday news briefing.

According to Reuters, National Bank Governor Timur Suleimenov said the bank is compiling a list of instruments for the portfolio. He said the basket would include crypto-linked assets and did not rule out direct cryptocurrency exposure, though officials indicated the initial emphasis would be on listed instruments tied to the sector.

Deputy Governor Aliya Moldabekova reportedly said the bank expects the first investments to begin in April or May. Until then, funds allocated for the initiative are being held in money market instruments. She said the investments may also include shares in companies tied to digital asset infrastructure and exchange-traded funds (ETFs) tracking them.

The remarks were made during a briefing following the bank’s interest rate decision on Friday.

🇰🇿 JUST IN: Kazakhstan’s central bank plans a $350M portfolio tied to crypto markets, expected to begin in April–May. pic.twitter.com/Sm0gu3qTGz

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The move is one of Kazakhstan’s clearest steps yet toward gaining market exposure to digital assets through reserve management.

Related: Kazakhstan to launch crypto pilot zone for payments and adoption

Citing the central bank, National Business reported that about $350 million from Kazakhstan’s National Fund would be allocated to build the portfolio.

The outlet added that an additional $350 million from the central bank’s gold and foreign exchange reserves may be used to create a separate sub-portfolio tied to similar assets.

Kazakhstan expands digital asset strategy

The development comes as Kazakhstan expands efforts to integrate digital assets into its financial ecosystem.

On Nov. 7, 2025, officials were considering creating a state crypto reserve of between $500 million and $1 billion, funded partly by sovereign wealth assets and confiscated digital assets. The new portfolio implementation appears to advance those earlier discussions.

Kazakhstan has also explored other initiatives tied to digital assets. On Sept. 30, 2025, the government launched the state-backed Alem Crypto Fund to invest in digital assets through the Astana International Financial Centre.

Cointelegraph reached out to the National Bank of Kazakhstan, but had not received a response by publication.