Kazakhstan plans to establish a national crypto reserve fund valued between $500 million and $1 billion, Bloomberg reported today. The Central Asian nation aims to diversify its economy beyond oil dependence through strategic digital asset investments.

The reserve fund will target ETFs and crypto-related companies to gain exposure to digital assets including Bitcoin. Kazakhstan’s deputy central bank governor publicly confirmed the initiative as part of broader economic diversification efforts.

The central bank is considering channeling portions of its gold and foreign exchange reserves into crypto assets. This strategy represents Kazakhstan’s effort to reduce its traditional reliance on oil revenues through alternative financial instruments.

The move positions Kazakhstan among nations integrating digital assets into sovereign reserves for strategic financial positioning. The fund structure would provide indirect crypto exposure through established investment vehicles rather than direct digital asset holdings.