Itaú Asset is launching a crypto division within its billion-dollar mutual funds arm, aiming to deliver alpha for clients with digital assets trading. Itaú Asset Management, Brazil’s largest private asset manager, has created a dedicated crypto division and appointed former Hashdex executive João Marco Braga da Cunha to lead the new unit. The unit builds on Itaú Asset’s existing crypto products, including the bank's Bitcoin exchange-traded fund (ETF) and a retirement fund offering exposure to digital assets. Itaú Asset manages over 1 trillion reais ($185 billion) in assets for its clients. “The crypto asset segment has unique characteristics for generating alpha. It’s a relatively new market that creates major opportunities due to its volatility,” Cunha said. He previously served as portfolio management director at Hashdex, the Brazilian firm that behind one of the country’s first crypto ETFs. Read more
Bitcoin’s brief rally above $113,000 disintegrated after a shocking US jobs report emerged. Is it time to add or cut risk? Key takeaways: Bitcoin briefly surged to $113,000 before reversing after weaker-than-expected US payrolls data. Onchain flows show $2 billion in stablecoin inflows and record open interest near all-time highs. Read more
Whales are losing millions of dollars on the decline of the Trump-linked WLFI token, but most of the pre-sale participants are still holding the coin. Whales, or big cryptocurrency investors, have lost millions of dollars by betting on the price appreciation of the Trump family-linked World Liberty Financial (WLFI) token. Since its launch on Monday, the WLFI token’s price fell by over 40%, despite a large-scale token burn event that permanently reduced the token’s circulating supply, aiming to tighten supply and boost the value of the remaining tokens on the market. Despite the over 40% decline, some of the pre-sale holders are still showing confidence in the presidentially endorsed token. Read more
A 24/7 trading cycle would create new opportunities and risks for traditional financial markets that do not operate on nights and weekends. The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) released a joint statement on Friday exploring a possible shift to 24/7 capital markets and regulations for crypto derivatives. Scaling onchain finance requires a 24/7 trading environment across asset classes, the regulators said in the statement. Crafting regulatory clarity for event contracts and perpetual futures — futures contracts without an expiry date — was also a priority. However, the agencies clarified: Read more
Ether’s exchange flux metric turned negative for the first time in history, signaling a shift in investor behavior and Ether’s potential to resume its uptrend. Key takeaways: Ether’s exchange flux balance turned negative for the first time, signaling aggressive accumulation. ETH price could rally to new highs above $5,000 if key resistance breaks. Read more