Loki has taken the forms of Captain America, Odin, and Thor in the MCU movies; he even once took the form of a snake, according to Thor himself, and the sky’s the limit for a trickster god. Now, Disney has confirmed via a teaser video that the character is genderfluid, as his ability would seem to suggest.
Check out the last couple seconds in the video accompanying the tweet above for a look at Loki’s TVA rap sheet. In Norse mythology and the MCU alike, Loki can take virtually any form he likes. Shapeshifters in Marvel and general fiction alike are often faced with the question, ‘if you can take any shape, what is your actual shape?’ While Loki seems to have chosen the body we see in the films–that of actor Tom Hiddleston–he’s anything but limited.
In the comics, Loki has taken multiple female forms. Sometimes it’s borrowing the form of someone like Scarlet Witch for subterfuge, but the character has his own female body that he’s lived in on multiple occasions.
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Source: Game Spot Mashup