Kazakhstan's National Bank is deploying $350 million from gold and forex reserves into crypto-linked investments starting April 2026.
A central bank is putting national reserves into crypto for the first time in Central Asia. Kazakhstan just announced a $350 million allocation from its gold and foreign exchange reserves into digital asset investments.
Kazakhstan's National Bank confirmed on March 6 that its investment arm, the National Investment Corporation (NIC), has formed a $350 million portfolio specifically for crypto-related assets. The funds come directly from the country's gold and foreign exchange reserves.
The allocation targets crypto ETFs, index funds tracking digital asset performance, shares in crypto infrastructure companies, and positions through roughly five hedge funds and venture capital vehicles focused on the sector. Officials stressed that deployment will begin gradually from April or May 2026, with no rush to make large individual purchases.
This is one of the most significant sovereign allocations to crypto assets by a central bank to date. Officials described the $350 million as a first tranche of a national crypto reserve that could grow toward $1 billion over the next few years.
The NIC will also take over management of digital assets seized by law enforcement, folding them into the national reserve. This approach mirrors strategies used by governments like the United States, which holds seized Bitcoin, but Kazakhstan is going further by actively investing fresh capital into the asset class.
The announcement comes at a time when institutional adoption of crypto is accelerating globally. Spot Bitcoin and Ethereum ETFs, approved in the U.S. in 2024, have drawn billions in inflows and normalized crypto as an institutional asset class.
The NIC is finalizing its selection of hedge funds and ETF products, with capital deployment expected between April and May. The pace and composition of these allocations will signal how aggressively Kazakhstan intends to build its digital asset position. If the program succeeds, the target of $1 billion would make it one of the largest sovereign crypto portfolios in the world.
Kazakhstan's move represents a shift in how central banks view digital assets. From mining hub to direct investor, the country is betting that crypto belongs in national reserves alongside gold and foreign currencies. Other resource-rich nations may follow.
Wall Street giant Citigroup projects Bitcoin could reach $143,000 within 12 months, citing ETF demand and regulatory tailwinds as key catalysts.
The largest US bank is assessing spot and derivatives trading services as regulatory clarity enables traditional finance to deepen crypto involvement.
All 12 U.S. spot Bitcoin ETFs saw positive inflows on March 2, totaling $458M as BTC rebounds from February lows.
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