Yes.

My home server has dropbear-initramfs installed so that after reboot I can access the LUKS decryption prompt over SSH. The one LUKS partition contains a btrfs filesystem with both rootfs and home as subvolumes. For all the other drives attached to that system, I use ZFS native encryption with a dataset that decrypts with a keyfile from that rootfs and I have backups of an encrypted copy of that keyfile.

I don’t think there’s a substantial performance impact but I’ve never bothered benchmarking.