Asset Management, the investment arm of Brazil’s largest private bank, Eta Unibanco, has recommended that investors hold between 1% and 3% of their portfolios in bitcoin next year.
In a new research note, ITA Asset’s Renato Eid said the global backdrop of geopolitical tensions, changing monetary policy and persistent currency risks strengthen the case for adding bitcoin (BTC) as a complementary asset.
He characterized 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 — currency hedging function.”
The advice comes despite a tumultuous year for Bitcoin. The asset started around $95,000 in 2025, rose to $80,000 during the tariff crisis, then rose to an all-time high of $125,000 before settling around $95,000.
Related: Brazil’s crypto tax crackdown signals the end of an era
Bitcoin can stabilize portfolios amid currency swings
Brazilian investors have felt bitcoin’s volatility more acutely than global traders. This year, the Brazilian real exacerbated local losses for local investors.
However, Eid argued that a small, stable bitcoin allocation could smooth out the risk that traditional assets fail to hedge. Citing the bank’s internal data, he said there is low correlation between BITI11, its locally listed Bitcoin ETF, and other major asset classes, which supports the case for adding modest BTC positions to improve portfolio balance.
“By allocating around 1% to 3% to their investment portfolio, investors will actually benefit from an asset that creates diversification,” the bank wrote.
Related: Why Brazil Is Using Bitcoin as a Treasury Asset and What Other Nations Can Learn
Eta Assets Launches Dedicated Crypto Unit
In September, ETA Asset created a standalone crypto division and appointed former Hashdex executive João Marco Brega da Cunha to lead it. The unit expands on ITA’s existing digital asset offerings, which include its bitcoin ETF and a retirement fund with crypto exposure.
ITAú also plans to develop a broader suite of products, from fixed income-style instruments to high-volatility strategies such as derivatives and stacking.
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