Spot ETH trading and custody for retail clients

Itaú Unibanco, a Brazilian bank, began offering bitcoin and ETH trading on its investment platform íon on 4 December 2023, rolling it out to clients gradually with a minimum purchase of R$10. Itaú keeps the coins in custody itself rather than with a third party, and at launch clients could not move crypto to or from outside wallets. In December 2024 it opened bitcoin and ETH trading to all clients in the main Itaú app. This is custody of ETH itself, not tokenization.