Kazakhstan reportedly invested $100 million in crypto funds, including Brevan Howard Digital, according to a post circulating on X. The claim has not been confirmed by the National Bank of Kazakhstan, the state-linked Alem Crypto Fund, or the Kazakh government. What is documented is the launch of the Alem Crypto Fund in September 2025 and the central bank’s consideration of a $300 million to $350 million allocation to crypto-related instruments. The national fund could reach between $500 million and $1 billion by early 2026, mainly through exchange-traded funds, crypto-linked equities and stakes in investment managers rather than direct token holdings. Brevan Howard Digital returned 51.3% in 2024 before losing 30% in 2025, which does not establish that the reported Kazakh investment took place.
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