The National Bank of Kazakhstan is poised to allocate up to $350 million from its gold and foreign exchange reserves into a crypto-linked investment portfolio. Senior officials revealed that the initial steps for these investments are expected to commence in April or May.
During a recent briefing, National Bank Governor Timur Suleimenov disclosed that the bank is in the process of curating a list of financial instruments for the new portfolio. This collection will feature various crypto-linked assets, and while direct exposure to cryptocurrencies is not off the table, the primary focus will initially be on listed instruments associated with the digital asset sector.
Deputy Governor Aliya Moldabekova confirmed that the first investments are anticipated to start in the upcoming months. In the interim, the funds designated for this initiative are being securely held in money market instruments. Moldabekova also noted that the portfolio could encompass shares in companies related to digital asset infrastructure and exchange-traded funds (ETFs) that track these assets.
This strategic move marks a significant milestone for Kazakhstan, demonstrating a clear intention to gain exposure to the digital asset market through the management of its reserves. Reports have indicated that approximately $350 million from Kazakhstan”s National Fund will be directed toward developing this portfolio.
Moreover, there is potential for an additional $350 million from the central bank”s reserves to be utilized in creating a separate sub-portfolio that would similarly focus on digital assets.
The initiative aligns with Kazakhstan”s broader strategy to integrate digital assets into its financial framework. Back in November 2025, officials had discussed the possibility of establishing a state crypto reserve ranging from $500 million to $1 billion, which would be partially funded by sovereign wealth assets and confiscated digital assets. The current portfolio initiative appears to be a direct progression from those earlier considerations.
In addition to these plans, Kazakhstan has been exploring various projects related to digital assets. For instance, in September 2025, the government unveiled the state-backed Alem Crypto Fund, which is designed to invest in digital assets via the Astana International Financial Centre.
As the situation develops, Cointelegraph has reached out to the National Bank of Kazakhstan for further insights but has yet to receive a reply.
