Summary
- Brazil's largest asset manager Itaú Asset has established a dedicated crypto asset unit.
- The establishment of the unit indicates that the entry of traditional finance into the crypto asset market is accelerating.
- An Itaú representative said that crypto assets have high volatility but offer opportunities to generate special alpha returns.
On the 5th (local time), according to crypto-focused media Cointelegraph, Brazil's largest asset manager Itaú Asset has established a dedicated crypto asset unit.
Itaú Asset manages about 1 trillion reais (USD 185 billion) in assets, and the creation of this dedicated unit is seen as an example that the entry of traditional finance into the crypto asset market is accelerating.
An Itaú representative said, "Crypto assets offer opportunities to generate special alpha returns," adding, "High volatility can be a risk factor but can also create significant investment opportunities."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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