- The division will reportedly operate within Itaú’s multidesk investment system.
- Itaú recently enabled direct trading of Bitcoin and ether through its mobile app, with custody provided in-house.
Brazil’s largest private asset manager is stepping deeper into digital assets with the launch of a new crypto-focused division.
Itaú Asset Management has named João Marco Braga da Cunha, a former executive at Hashdex, to head the unit, marking a fresh chapter in the bank’s growing involvement with cryptocurrencies, local media publication Livecoins reported.
The new division will reportedly operate within Itaú’s multidesk investment system, which manages more than 117 billion reais ($21.6 billion) across 15 trading desks. By joining desks dedicated to equities, credit, and systematic strategies, the crypto team aims to diversify Itaú’s investment products and expand its footprint in digital markets.
Itaú has gradually built its presence in crypto since 2022. It introduced a bitcoin ETF (BITI11), launched a retirement plan with BTC exposure, and rolled out the Itaú Bitcoin Index fund. Together, these vehicles now hold around 850 million reais ($152 million) in assets.
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Building On Existing Crypto Ventures
More recently, the bank enabled direct trading of bitcoin and ether on its mobile app, with custody handled in-house. Discussions have also surfaced about launching its own stablecoin.
The new unit is expected to offer a wider spectrum of crypto-linked products. Plans include fixed-income-style instruments and higher-risk funds tied to derivatives. This strategy reflects Itaú’s intention to position itself as a gateway for mainstream crypto exposure.
