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5d ago

Itaú Asset Management Urges 1%–3% Bitcoin Allocation for Brazilian Portfolios

The firm frames a modest, disciplined slice as a diversification tool for local investors, offering partial protection against real depreciation.

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Brazil’s largest asset manager recommends investors put up to 3% of their money in bitcoin to hedge against fx, market shocks
Photo: Sérgio Ripardo/Bloomberg Línea
Brazil’s largest bank updates bitcoin portfolio recommendations

Overview

  • In a year-end note, Renato Eid of Itaú Asset Management recommends a 1% to 3% bitcoin position for suitable clients as a complementary, non-core holding.
  • The guidance cites bitcoin’s low correlation with domestic assets and its potential to cushion portfolios against Brazilian real weakness.
  • Itaú points clients to regulated access routes in Brazil such as the BITI11 bitcoin ETF for implementing the allocation.
  • The stance aligns with recent small-allocation guidance from major managers, including Bank of America (up to 4%), BlackRock (about 2%) and Morgan Stanley (2%–4%).
  • Context includes pronounced 2025 volatility—bitcoin rose near $125,000 before sliding toward about $90,000—and roughly 15% depreciation of the real that has shaped local returns.