Itaú Asset Management, Brazil’s largest private asset manager, has created its first dedicated crypto division and appointed João Marco Braga da Cunha — a former Hashdex executive — to head the new team. The move was announced on Sept. 6, 2025, as the bank aims to broaden its digital asset offerings.
The unit will operate inside Itaú’s multidesk investment structure, which oversees more than 117 billion reais (about $21.6 billion) across 15 trading desks. The crypto team will join existing desks focused on equities, credit and systematic strategies, signaling that digital assets are being integrated into Itaú’s mainstream institutional capabilities.
Itaú has already dipped into crypto markets: since 2022 it has offered a bitcoin exchange-traded fund (BITI11) and a retirement plan with bitcoin exposure. Together with the Itaú Bitcoin Index fund, those products hold roughly 850 million reais (about $152 million) in assets. The bank more recently enabled direct trading of BTC and ETH through its mobile app with in-house custody, and has reportedly considered launching its own stablecoin.
The new division is expected to develop a spectrum of products, from low-volatility, fixed-income-style instruments to higher-risk funds tied to derivatives — reflecting a strategy to serve both conservative institutional clients and more risk-tolerant investors.
Why it matters: the move marks a notable step toward mainstream institutional adoption of crypto in Latin America, increases competition among asset managers (including former employer Hashdex), and signals growing confidence in integrating custody and trading inside traditional banks.
Risk note: crypto products carry market volatility and custody and regulatory complexities. Institutional-grade custody and clear risk disclosures will be key if these products scale.
Source: Livecoins. Read the original coverage for full details.