Kazakh Crypto-Asset Fund Targets $1 Billion With Seized Wallets

Kazakhstan is building a national cryptocurrency reserve fund of between $500 million and $1 billion, in part using assets seized and repatriated from abroad.

Central bank Governor Timur Suleimenov said the fund’s investments would include exchange traded funds and the shares of companies involved with digital currencies. It will be “very careful about direct exposure to cryptocurrencies,” he said in an interview with Bloomberg in London on Wednesday.

Timur Suleimenov in London, on Nov. 5.

Photographer: Chris J. Ratcliffe/Bloomberg

“I think by year end, January next year, we will have it up and running,” he said. “Everybody’s good to go.”

Cash for the purchases will come from the alternative-investment portions ...