Swiss crypto asset manager 21Shares has launched six new crypto-linked Brazilian Depositary Receipts (BDRs) in Brazil, marking its official entry into one of Latin America’s fastest-growing digital asset markets. The listings went live on Thursday at the opening of B3, Brazil’s main stock exchange.
The products are BDRs of European-listed Exchange Traded Products (ETPs), a category that includes ETFs and other exchange-traded vehicles. The launch expands Brazil’s crypto ETF landscape, which already features more than 20 listed funds.
According to the company, the decision follows three years of market research. “Now is the right time,” said Bruna Cabús, senior associate at 21Shares for Iberia and Latin America. “We see growing demand for crypto exposure from both retail and institutional investors. The 2023 regulation opened additional doors.
21Shares manages over $11 billion in assets and holds roughly 30% of the European crypto ETP market. Its product suite includes more than 50 offerings across Europe, the U.S., and Australia — including the ARK 21Shares Bitcoin ETF (ARKB), one of the first spot BTC ETFs approved in the U.S., launched in partnership with Cathie Wood’s ARK Invest.
In Brazil, 21Shares will partner with BTG Pactual and Virtu, who will serve as market makers for the six BDRs. The company now has a six-person team based locally. The launch comes amid a broader rise in digital asset exposure among Brazilian investors.
A Locomotiva Institute survey in April showed that 42% of investors already hold crypto, matching the share of those investing in mutual funds. A separate Datafolha poll estimated that at least 25 million Brazilians have exposure to digital assets.
While Brazil’s crypto ETF market is already competitive, the entry of 21Shares, alongside major banking and trading partners, may signal the beginning of deeper institutional engagement in local crypto capital markets.
