Introduction of Crypto Division at Itaú Asset Management
Brazil’s largest private asset manager, Itaú Asset Management, has established its inaugural dedicated crypto division and appointed João Marco Braga da Cunha, a former executive at Hashdex, to oversee the new unit.
Integration within Itaú’s Investment Structure
According to a report by local news outlet Livecoins, this division will be integrated within Itaú’s multidesk investment framework, which currently manages over 117 billion reais ($21.6 billion) across 15 trading desks. The crypto team will join existing groups that focus on equities, credit, and systematic strategies, aiming to broaden Itaú’s offerings in digital asset products.
Previous Movements into Crypto
Itaú has gradually been entering the crypto markets. Since 2022, the bank has provided a bitcoin exchange-traded fund (BITI11) and a retirement plan featuring BTC exposure. In conjunction with its Itaú Bitcoin Index fund, these products collectively manage approximately 850 million reais ($152 million) in assets.
Recent Developments
More recently, Itaú has started facilitating direct trading of cryptocurrencies via its mobile app, allowing users to trade BTC and ETH, with custody managed in-house. The bank is also considering the launch of its own stablecoin.
Future Product Offerings
The newly formed unit is anticipated to introduce a variety of products, from fixed-income-style instruments to higher-risk funds linked to derivatives.
