Brazil’s largest asset manager strengthens digital assets strategy
Itaú Asset Management, Brazil’s largest private asset manager with more than 1 trillion reais ($185 billion) under management, has announced the launch of a dedicated crypto division. The new unit will operate within its mutual funds structure and will be led by João Marco Braga da Cunha, a former Hashdex executive.
Crypto as a source of alpha
The firm emphasized that digital assets offer new opportunities for portfolio diversification.
“The crypto asset segment has unique characteristics for generating alpha. It’s a relatively new market that creates major opportunities due to its volatility,” said Cunha, who previously helped launch some of Brazil’s first crypto ETFs at Hashdex.
The division aims to design products ranging from fixed-income–style instruments to higher-volatility strategies such as derivatives and staking-based funds.
Building on Itaú’s existing crypto services
Itaú already offers clients direct trading of 10 cryptocurrencies, including Bitcoin, Ether, Solana, and USD Coin, through its mobile app. The bank also manages a Bitcoin ETF and a retirement fund with crypto exposure, with custody handled in-house.
By adding a specialized crypto desk under its 117 billion reais mutual fund operations, the firm signals deeper integration of digital assets into mainstream investment products.
Brazil’s crypto adoption accelerates
Brazil has emerged as one of the largest crypto markets worldwide, ranking 10th globally in the 2024 Crypto Adoption Index. A strong regulatory framework has helped drive growth, including the 2023 crypto law that established oversight by the central bank.
The market has also seen a wave of institutional products, including Brazil’s first spot XRP ETF approved in February 2025 and plans for a real-pegged stablecoin by Braza Bank.
Despite recent tax debates, Brazil’s asset managers continue to expand into digital assets. With Itaú Asset’s new crypto division, the country’s largest investment house is positioning itself at the forefront of regulated crypto investment opportunities for both retail and institutional clients.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.