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Brazil’s Largest Private Asset Manager Itaú Launches Crypto-Focused Division
The new unit, led by former Hashdex executive João Marco Braga da Cunha, will operate within Itaú's multidesk investment structure, which oversees $21.6 billion in assets.
Sep 6, 2025, 2:56 p.m.
What to know:
- Itaú Asset Management, Brazil's largest private asset manager, has formed its first dedicated crypto division.
- The new unit, led by former Hashdex executive João Marco Braga da Cunha, will operate within Itaú's multidesk investment structure, which oversees $21.6 billion in assets.
- Itaú has been gradually increasing its presence in crypto markets, having launched a bitcoin ETF, a retirement plan with BTC exposure, and direct trading of cryptocurrencies through its mobile app.
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Brazil’s largest private asset manager Itaú Asset Management has formed its first dedicated crypto division and named João Marco Braga da Cunha, a former executive at Hashdex, to run the new unit.
The division, local news outlet Livecoins reports, will sit within Itaú’s multidesk investment structure, which oversees more than 117 billion reais ($21.6 billion) across 15 trading desks. The crypto team joins groups focused on equities, credit, and systematic strategies, with the goal of expanding Itaú’s lineup of digital asset products.
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Itaú has over time been moving into crypto markets. Since 2022, it has offered a bitcoin exchange-traded fund (BITI11) and a retirement plan with BTC exposure. Together with its Itaú Bitcoin Index fund, these products hold about 850 million reais ($152 million) in assets.
More recently, Itaú began offering direct trading of cryptocurrencies through its mobile app, including BTC and ETH, with custody provided in-house. The bank has also mulled launching its own stablecoin.
The new unit is expected to roll out products that range from fixed-income-style instruments to higher-risk funds tied to derivatives.
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