Brazil already has 16 cryptocurrency ETFs, as well as other crypto-related funds. Brazil's first crypto ETF was approved in 2020, and management firm BLP launched a crypto investment fund in Brazil in 2017. BLP, Hashdex and QR Asset are the leading cryptocurrency fund managers in Brazil. More than half of the 16 cryptocurrency ETFs are from Hashdex (6 funds) and QR Asset (4 funds). Hashdex and QR crypto assets have up to 100% risk exposure.