Brazil’s largest asset manager Itaú Asset forms dedicated crypto unit

Itaú Asset is launching a crypto division within its billion-dollar mutual funds arm, aiming to deliver alpha for clients with digital assets trading.

Itaú Asset Management, Brazil’s largest private asset manager, has created a dedicated crypto division and appointed former Hashdex executive João Marco Braga da Cunha to lead the new unit.

The unit builds on Itaú Asset’s existing crypto products, including the bank's Bitcoin exchange-traded fund (ETF) and a retirement fund offering exposure to digital assets. Itaú Asset manages over 1 trillion reais ($185 billion) in assets for its clients.

“The crypto asset segment has unique characteristics for generating alpha. It’s a relatively new market that creates major opportunities due to its volatility,” Cunha said. He previously served as portfolio management director at Hashdex, the Brazilian firm that behind one of the country’s first crypto ETFs.

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