Itaú Asset Management Establishes First Crypto Division Led by João Marco Braga da Cunha

Brazil’s Itaú Asset Management has established its first dedicated crypto division, led by João Marco Braga da Cunha, a former Hashdex executive. This division is part of Itaú's multidesk investment structure managing over 117 billion reais ($21.6 billion).

• The crypto team aims to enhance Itaú's digital asset offerings.
• Itaú has offered a bitcoin exchange-traded fund (BITI11) and a retirement plan with BTC exposure since 2022.
• Its crypto products currently hold approximately 850 million reais ($152 million) in assets.
• The bank provides direct cryptocurrency trading via its mobile app, including BTC and ETH.
• Plans for launching its own stablecoin are being considered.
• The new unit will develop a range of products, from fixed-income instruments to higher-risk funds linked to derivatives.