The National Bank of Kazakhstan is planning to invest up to $350 million from its gold and foreign exchange reserves into crypto-related assets, according to a report by Reuters.
The initiative is expected to provide the country with exposure to the growing digital asset sector while maintaining a cautious investment strategy.
Officials said the investment will focus primarily on shares of technology companies linked to the cryptocurrency industry as well as index funds that track digital asset markets.
However, the program is not expected to involve large direct purchases of cryptocurrencies such as Bitcoin or Ethereum.
According to the report, the investment program could begin as early as April or May, once the central bank completes preparations and finalizes the structure of the initiative.
Authorities said the goal is to diversify the country’s reserve investments while gaining indirect exposure to the rapidly expanding crypto and blockchain ecosystem.
The strategy reflects a broader trend among financial institutions and governments exploring ways to participate in the digital asset economy without taking on the full volatility risks associated with direct cryptocurrency holdings.
By focusing on crypto-related companies and investment funds, the central bank aims to benefit from industry growth while maintaining a more balanced risk profile.
Kazakhstan has become an important player in the global cryptocurrency sector in recent years, particularly in the area of digital asset mining.
Following regulatory changes in other countries, several crypto mining operations relocated to the Central Asian nation due to its relatively low energy costs and supportive infrastructure.
Despite this growing involvement in the digital asset industry, authorities have continued to emphasize the importance of regulatory oversight and financial stability.
The proposed investment program appears to reflect that cautious approach by avoiding large direct holdings of cryptocurrencies.
If implemented, the move could position the National Bank of Kazakhstan among the few central banks seeking indirect exposure to the digital asset sector through reserve investments.
