Brazil’s largest non-public asset supervisor Itaú Asset Administration has fashioned its first devoted crypto division and named João Marco Braga da Cunha, a former government at Hashdex, to run the brand new unit.
The division, native information outlet Livecoins studies, will sit inside Itaú’s multidesk funding construction, which oversees greater than 117 billion reais ($21.6 billion) throughout 15 buying and selling desks. The crypto crew joins teams targeted on equities, credit score, and systematic methods, with the purpose of increasing Itaú’s lineup of digital asset merchandise.
Itaú has over time been transferring into crypto markets. Since 2022, it has provided a bitcoin exchange-traded fund (BITI11) and a retirement plan with BTC publicity. Along with its Itaú Bitcoin Index fund, these merchandise maintain about 850 million reais ($152 million) in belongings.
Extra lately, Itaú started providing direct buying and selling of cryptocurrencies by way of its cellular app, together with BTC and ETH, with custody supplied in-house. The financial institution has additionally mulled launching its personal stablecoin.
The brand new unit is predicted to roll out merchandise that vary from fixed-income-style devices to higher-risk funds tied to derivatives.
