Itaú Asset Management, the investment arm of Brazil’s largest private bank, Itaú Unibanco, has advised investors to allocate 1% to 3% of their portfolios to Bitcoin in 2026.
In a recent research note, Renato Eid of Itaú Asset highlighted that ongoing geopolitical tensions, evolving monetary policies, and persistent currency risks make a compelling case for including Bitcoin as a complementary asset.
Eid described Bitcoin as “an asset distinct from fixed income, traditional stocks, or domestic markets, with its own dynamics, return potential, and — due to its global and decentralized nature — a currency hedging function.”
The recommendation comes despite a volatile year for Bitcoin. The cryptocurrency started 2025 near $95,000, fell toward $80,000 amid a tariff crisis, then soared to an all-time high of $125,000 before stabilizing around $95,000.
Bitcoin as a Hedge Against Currency Swings
Brazilian investors have experienced Bitcoin’s volatility more acutely than global traders. The Brazilian real strengthened roughly 15% this year, magnifying local losses for domestic investors.
Nonetheless, Eid argued that even a small, consistent allocation to Bitcoin can mitigate risks that traditional assets cannot. Drawing on the bank’s internal data, he noted that BITI11, Itaú’s locally listed Bitcoin ETF, shows low correlation with major asset classes, supporting the inclusion of a modest BTC position to enhance portfolio stability.
“By allocating roughly 1% to 3% of their portfolios, investors can benefit from an asset that provides genuine diversification,” the bank noted.
Itaú Asset Launches Dedicated Crypto Unit
In September, Itaú Asset established a standalone crypto division, appointing former Hashdex executive João Marco Braga da Cunha as its head. The new unit builds on Itaú’s existing digital-asset offerings, including its Bitcoin ETF and a retirement fund with crypto exposure.
The bank also intends to expand its crypto product lineup, introducing offerings that range from fixed-income-style instruments to higher-volatility strategies such as derivatives and staking.
