Kazakhstan’s central bank said it will allocate up to $350 million from its gold and foreign exchange reserves to a crypto-linked investment portfolio, with initial purchases expected in April or May, senior officials said at a Friday briefing.
National Bank Governor Timur Suleimenov said the bank is compiling a list of eligible instruments for the new portfolio. Officials expect the basket to focus on listed, crypto-linked assets, though it could also include direct cryptocurrency exposure over time.
Deputy Governor Aliya Moldabekova said the funds earmarked for the initiative are currently held in money market instruments. She reiterated that the first investments may begin in April or May and said the portfolio could include shares of companies involved in digital asset infrastructure as well as exchange-traded funds (ETFs) that track the sector.
Local reporting by National Business indicated that roughly $350 million from Kazakhstan’s National Fund would be used to build the portfolio, and that an additional $350 million from the central bank’s reserves might be set aside to create a separate, similar sub-portfolio.
The decision marks one of the clearest moves by Kazakh authorities to gain reserve exposure to digital assets. It follows earlier government discussions: on Nov. 7, 2025, officials reportedly considered creating a state crypto reserve of $500 million to $1 billion funded in part by sovereign assets and confiscated digital assets, and 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 contacted the National Bank of Kazakhstan for comment but had not received a response by the time of publication.