Bitcoin News Today: Itaú Asset Moves to Turn Crypto Volatility Into Structured Opportunity

Itaú Asset Management, Brazil’s largest private asset manager, has deepened its commitment to the cryptocurrency market by establishing a dedicated crypto division. The new unit, led by former Hashdex executive João Marco Braga da Cunha, will focus on developing a range of digital asset products, including fixed-income-style instruments, derivatives, and staking-based strategies. The appointment of Cunha, who previously directed portfolio management at Hashdex, reinforces Itaú Asset’s strategic approach to capitalizing on the volatility and opportunities within the crypto market.

Itaú Asset already offers a Bitcoin exchange-traded fund (ETF) and a retirement fund with exposure to digital assets, managing over 1 trillion reais in total assets. The new division will operate within the firm’s existing mutual funds structure, which oversees 117 billion reais across 15 investment desks. This expansion complements Itaú’s broader digital asset initiatives, including direct trading of 10 cryptocurrency pairs—such as Bitcoin, Ether, Solana, and USD Coin—through its mobile app, with in-house custody of the assets.

Brazil has become a significant player in the global crypto market, ranking 10th in Chainalysis’ 2024 Global Crypto Adoption Index. The country’s progress is attributed to its 2023 regulatory reform, which established a legal framework for virtual asset service providers and granted oversight to the central bank. In response to this evolving environment, Itaú Unibanco launched crypto trading for retail clients in December 2023, initially supporting Bitcoin and Ether. The country’s securities regulator also approved Brazil’s first spot XRP ETF from Hashdex in February 2025, signaling continued regulatory and market development.

Despite this progress, regulatory uncertainty remains. In June, Brazil introduced a tax reform that imposed a flat 17.5% tax on all crypto capital gains, removing previous exemptions for smaller transactions and expanding the tax scope to cover self-custody, offshore holdings, DeFi, NFTs, and staking yields. The policy faced immediate criticism and was revoked before the end of the month. This episode highlights the ongoing need for regulatory clarity to sustain investor confidence and encourage broader adoption.

Itaú Asset’s entry into the crypto space reflects a growing institutional interest in digital assets across Latin America. With Brazil leading the way, the country is emerging as a model for how traditional financial institutions can integrate crypto into their offerings while maintaining compliance. The launch of real-pegged stablecoins and the introduction of innovative crypto products, such as staking-based funds and derivatives, further illustrate the potential for crypto to become a mainstream investment vehicle.

As the Brazilian market continues to evolve, Itaú Asset’s new division is positioned to play a key role in shaping the future of digital asset management. By leveraging its existing infrastructure and regulatory expertise, the firm aims to provide clients with diversified, compliant, and potentially high-return investment opportunities in an increasingly mature crypto market.

Source: [1] Brazil's Largest Asset Manager Itaú Asset Forms Dedicated ... (https://cointelegraph.com/news/brazil-asset-manager-itau-asset-dedicated-crypto-unit) [2] Itaú Asset Management unveils new crypto unit to build ... (https://www.mitrade.com/insights/news/live-news/article-3-1101317-20250906) [3] Itaú Asset Management Strides into Brazil's Crypto ... (https://www.onesafe.io/blog/itau-asset-management-brazil-crypto-division)