Brazil's Largest Private Bank Recommends 3% Allocation to Bitcoin by 2026

Itaú Asset Management, the investment division of Brazil's biggest private bank, Itaú Unibanco, has suggested that investors consider allocating between 1% to 3% of their portfolios to Bitcoin in the coming year.

Key Takeaways

Itaú Asset Management recommends that investors allocate 1% to 3% of their portfolios to Bitcoin in 2026.
The suggestion arises amid global economic uncertainties, where Bitcoin could serve as a hedge.
Local investors in Brazil have seen greater volatility impacts this year compared to global traders.
Itaú Asset has also established a dedicated crypto division to enhance its digital asset offerings.

Brazil’s largest private bank advises investors to allocate 3% to Bitcoin in 2026

In a recent research note, Renato Eid from Itaú Asset stated that the current global climate—characterized by geopolitical tensions, evolving monetary policies, and ongoing currency risks—reinforces the argument for Bitcoin as a supplementary investment.

Eid described Bitcoin as “an asset that is separate from fixed income, traditional stocks, or domestic markets, presenting its own characteristics, growth potential, and a function as a hedging tool against currency fluctuations due to its global and decentralized nature.”

This recommendation appears amid a challenging year for Bitcoin. The cryptocurrency started 2025 at nearly $95,000, dropped to about $80,000 during a tariff crisis, peaked at an impressive $125,000, and currently stabilizes around $95,000.
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Bitcoin: A Buffer Against Currency Volatility

Investors in Brazil have experienced Bitcoin's volatility more acutely than traders in other parts of the world. The Brazilian real has appreciated by roughly 15% this year, worsening local losses for investors.

Nonetheless, Eid suggested that a modest Bitcoin investment could help mitigate risks that traditional assets do not cover. He highlighted that, based on Itaú's internal research, there is a low correlation between BITI11, its locally listed Bitcoin ETF, and other major asset classes. This reinforces the idea that a small BTC allocation can enhance portfolio stability.

A correlation matrix comparing BITI11 (a Bitcoin ETF) with prominent Brazilian and global market indices. Source: Itaú

“By designating about 1% to 3% of their investment portfolio to Bitcoin, investors can truly benefit from an asset that enhances diversification,” the bank noted.
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Itaú Asset's New Crypto Division

In September, Itaú Asset launched a dedicated cryptocurrency division and appointed João Marco Braga da Cunha, a former executive of Hashdex, to lead this initiative. This new unit builds upon Itaú's existing digital-asset offerings, which include a Bitcoin ETF and a retirement fund with crypto investments.

Additionally, Itaú plans to expand its range of products, including fixed-income-style financial instruments as well as strategies that cater to higher volatility, such as derivatives and staking.
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