Foresight News reported that Brazilian private asset management company Itaú Asset Management has established a cryptocurrency department and appointed former Hashdex executive João Marco Braga da Cunha to lead the department. The department is based on Itaú Asset's existing cryptocurrency products, including the bank's Bitcoin ETF and retirement funds that offer digital asset investments. Itaú Asset manages assets worth over 1 trillion reais (185 billion USD) for its clients.