21Shares Makes Bold Entry Into Brazil With Six Crypto BDRs

Swiss crypto ETP giant plants flag in Latin America's largest economy.

Breaking Down the BDR Play

21Shares launches six Brazilian Depositary Receipts tracking major cryptocurrencies—giving local investors regulated exposure without the usual regulatory gymnastics. The move targets institutional money sitting on the sidelines.

Why Brazil Matters Now

Latin America's financial hub represents untapped potential for crypto adoption. With inflation concerns lingering and digital asset infrastructure maturing, timing aligns perfectly for established players to capture market share.

The Institutional Gateway

BDRs bypass direct crypto ownership complexities—offering familiar investment structures while dodging custody headaches. Traditional finance gets its crypto fix without admitting it actually likes the stuff.

Global Expansion Accelerates

This Brazilian offensive follows 21Shares' European dominance, signaling aggressive growth strategy while legacy finance still debates whether Bitcoin belongs in portfolios. Because nothing says 'serious investment' like waiting until 2025 to enter emerging markets.

Brazil’s crypto ETP adoption accelerates

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.

Also read: Brazil’s Central Bank Meets Binance And ABToken On Crypto Rules