Investment management company Fonte Capital has announced the listing of the Fonte Bitcoin Exchange Traded Fund (ETF) on the Astana International Exchange (AIX), according to a statement on the company’s website.
An ETF is an exchange-traded investment fund that is traded in a way similar to ordinary shares. Typically, it is a basket of assets such as shares, bonds, commodities or a combination of them — bitcoin in this case. When an investor buys one ETF share, they effectively acquire a small stake in all the assets included in the ETF.
Trading in the fund’s shares began on Aug. 13 under the BETF ticker. The securities are quoted in U.S. dollars. A total of 40,000 shares were issued, priced at $25 each.
«BETF aims to accurately reflect the price dynamics of bitcoin, striving to achieve this performance before fees and fund obligations,» Fonte Capital noted.
The fund’s securities are available to a wide range of investors, including retail — non-accredited — participants.
«The listing of BETF on AIX marks an important step in the development of Kazakhstan’s investment infrastructure and provides investors with a regulated and secure way to include Bitcoin in their investment portfolios without the complexities associated with holding and transferring the underlying asset,» Fonte concluded.
The company was established in 2022 and operates in the field of trust companies, investment funds and similar financial organizations.
According to AIX, Fonte’s capital includes two shareholders: former editor of Harper’s Bazaar and MARCO magazine, as well as Mrs. Kazakhstan Globe finalist Xeniya Kibitkina and the company’s CEO Yerzhan Mussin.
