Brazil’s BTG Pactual Bets Big on ‘Uptober’ with Strategic Crypto Picks
As the leaves turn and the calendar flips to October, or “Uptober” as crypto enthusiasts like to call it, Brazil’s largest investment bank, BTG Pactual, is making waves with its latest cryptocurrency recommendations. The bank’s crypto platform, Mynt, has identified five digital assets poised for potential gains this month: Bitcoin (BTC), Ether (ETH), Solana (SOL), Avalanche (AVAX), and Sky (SKY). These selections, as outlined in a comprehensive report by analysts Matheus Parizotto and João Galhardo, reflect a broader optimism in the crypto market, buoyed by easing U.S. interest rates and the anticipated launch of new crypto ETFs.
Bitcoin: The Long-Term Anchor
Bitcoin remains the undisputed leader in the cryptocurrency space, and BTG Pactual’s endorsement reaffirms its status as the go-to asset for institutional investors. With a staggering $3.5 billion flowing into spot ETFs last month and corporate treasuries snapping up 43,000 BTC, Bitcoin’s allure shows no signs of waning. “For those seeking a long-term pillar in their portfolio, BTC offers liquidity, network security, and a track record of adoption that extends beyond retail investors,” the report highlights. It’s clear that Bitcoin’s role as a stable investment anchor continues to appeal to both seasoned and novice investors alike.
Ethereum: On-Chain Finance Leader
Ethereum, the second-largest cryptocurrency by market capitalization, also features prominently in BTG Pactual’s list. Known for its robust on-chain finance capabilities, Ethereum has concentrated a significant portion of the stablecoin volume and real-world asset tokenization projects. Over the past six months, U.S. spot ETFs have acquired $11.3 billion in ETH, while corporate treasuries added 816,000 ETH in September alone. These figures underscore the sustained institutional interest in Ethereum, which remains a key player in the evolving landscape of decentralized finance (DeFi).
Solana: Speed and Cost Efficiency
Solana’s inclusion in the list is primarily due to its impressive speed and cost efficiency. The network has been processing over $100 billion in decentralized exchange (DEX) volume for three consecutive months, with its total value locked surpassing $30 billion for the first time. BTG Pactual’s analysts emphasize Solana’s potential for further growth, particularly with the possible introduction of new spot SOL ETFs. “For those seeking exposure to high-performance infrastructure with growing adoption in real-world cases, Solana combines scale, competitive cost, and an accelerating network effect,” the report states.
Avalanche: Boosting Real-World Use Cases
Avalanche is making a name for itself with its sharp growth in on-chain activity. The network has witnessed a 46% increase in daily transactions and a 421% rise in stablecoin transfers over the last quarter. Its unique subnet architecture allows enterprises to create custom blockchains, enhancing its real-world use case potential. BTG Pactual’s report suggests that Avalanche’s innovative approach to blockchain technology could be a game-changer, attracting more institutional interest in the coming months.
Sky Protocol: A DeFi Token with Promise
Rounding out the list is Sky Protocol, the rebranded MakerDAO. With a stablecoin, USDS, boasting a circulating supply of nearly $8 billion, and a Sky Savings Rate offering a variable return currently at 4.75%, Sky Protocol is positioning itself as a revenue-generating DeFi token with long-term potential. The token buyback program, which has already deployed $77 million, further underscores its commitment to creating value for its holders.
A Balanced Perspective
While BTG Pactual’s crypto arm is optimistic about these five tokens, it’s essential to approach the market with a balanced perspective. Cryptocurrency investments, while potentially lucrative, are inherently volatile and carry risks. The current macroeconomic environment, characterized by fluctuating interest rates and regulatory uncertainties, could impact the performance of these assets.
Investors should consider diversifying their portfolios and staying informed about market trends. As always, thorough research and a clear understanding of one’s risk tolerance are crucial when navigating the crypto landscape.
Conclusion
BTG Pactual’s latest crypto picks highlight a growing confidence in the potential of digital assets to deliver substantial returns, especially in the context of “Uptober.” With Bitcoin and Ethereum leading the charge, and Solana, Avalanche, and Sky Protocol offering promising alternatives, the stage is set for an exciting month in the crypto world. However, investors should remain vigilant and prudent, balancing enthusiasm with caution as they explore these opportunities. As the market evolves, staying informed and adaptable will be key to navigating the complexities of the ever-changing crypto landscape.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
