Itaú Asset Management, Brazil’s leading private asset manager, has launched a dedicated crypto division led by João Marco Braga da Cunha, a former executive at Hashdex. The new unit aims to capitalize on the unique characteristics of the crypto asset market, which is known for its volatility and potential to generate alpha. Itaú Asset already manages over $185 billion in assets and has previously introduced products like Bitcoin ETFs and retirement funds with digital asset exposure. The firm enables direct trading of 10 cryptocurrencies via its mobile app, with in-house custody. The crypto division is expected to expand the range of offerings, including fixed-income instruments and derivatives. Brazil continues to evolve as a leading crypto market, recently securing its spot as the 10th largest globally according to Chainalysis. The regulatory environment is also taking shape, with the implementation of a new law for virtual asset service providers and a revised taxation policy. However, regulatory uncertainties persist, particularly regarding crypto capital gains taxes.

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