Brazil's largest private bank, Itaú Unibanco, has officially denied recent reports suggesting it recommends a 3% Bitcoin allocation for investment portfolios. The news, which circulated in early December 2025, claimed the bank was advising clients to allocate a specific percentage to Bitcoin, but no official confirmation from bank leadership or project websites supported the claim.
Itaú's denial highlights the ongoing scrutiny over crypto integration strategies within traditional finance. "Itaú is actively engaging in the crypto space, focusing on products like custody, trading, and derivatives for institutions," stated João Marco Braga da Cunha, Head of the Crypto Division at Itaú Unibanco. However, neither Cunha nor CEO Milton Vargas confirmed the validity of the alleged 3% allocation advice.
Despite the denial, Itaú remains a significant player in Brazil's crypto sector. The bank has offered Bitcoin and Ethereum trading products since 2022, including BTC and ETH ETFs, and provides mobile app trading and custodial services. Its crypto division has highlighted the market's potential, with Cunha noting, "The crypto asset segment has unique characteristics for generating alpha. It's a relatively new market that creates major opportunities due to its volatility."
The initial unconfirmed report had the potential to influence Brazil's burgeoning crypto industry and investor strategies, given Itaú's historical leadership in financial innovations like crypto-based retirement plans. The clarification reduces concerns over unverified financial strategies, with Bitcoin prices reportedly remaining steady as markets adjusted to the bank's unchanged official position.
