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Kazakhstan Central Bank Eyes Crypto Investments
6 Mar
Summary
- Central bank portfolio of up to $350 million for crypto assets.
- Investments will include crypto, tech stocks, and index funds.
- Investment in digital assets to begin in April-May.
Kazakhstan's central bank is establishing an investment portfolio valued at up to $350 million, to be sourced from its gold and foreign exchange reserves. This initiative signifies a move into cryptocurrency assets and related financial instruments.
The planned investments will encompass more than just direct cryptocurrency holdings. The portfolio will also include shares of high-tech companies actively involved in the digital asset space, as well as index funds and other instruments that mirror the performance dynamics of crypto assets.
According to central bank officials, these investments are anticipated to begin in April or May. The bank emphasized that the allocation to cryptocurrencies themselves will not be substantial, with a current focus on selecting companies that operate within the digital asset infrastructure and related sectors.
