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Home News Crypto

Bitcoin ETF Success Sparks Race for Alternative Crypto Fund Launches Despite Market Skepticism

by Team Lumida
December 20, 2024
in Crypto
Reading Time: 2 mins read
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Bitcoin Plunges to $64K Amid U.S. Tech Stock Turmoil

"Nobody gets me Bitcoins!" by zcopley is licensed under CC BY-SA 2.0

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Key Takeaways:

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• Bitcoin ETFs attract $36 billion in new money, with total assets reaching $116 billion
• BlackRock and Fidelity emerge as market leaders with $56B and $21B in Bitcoin ETF assets respectively
• Alternative crypto ETFs face regulatory hurdles and lukewarm investor interest
• Trump presidency could signal shift in crypto regulatory landscape

What Happened?

Bitcoin has achieved mainstream adoption in 2024, doubling in price and seeing successful ETF launches from major asset managers. The 12 spot Bitcoin ETFs collectively own over one million bitcoins, making them the world’s largest collective holder. This success has prompted asset managers like VanEck, Bitwise, and 21Shares to file applications for ETFs holding alternative cryptocurrencies such as Solana and XRP.

Why It Matters?

This development marks a crucial shift in cryptocurrency investment accessibility and institutional adoption. However, the contrast between Bitcoin ETF success and the tepid reception of Ether ETFs ($2.5 billion in inflows) highlights the market’s selective appetite. The regulatory environment remains challenging, with the SEC maintaining scrutiny over alternative tokens, though potential changes loom with Trump’s nomination of crypto-friendly Paul Atkins as SEC chair.

What’s Next?

Market participants should watch several key developments: regulatory decisions on alternative crypto ETF applications, especially under new SEC leadership; investor appetite for non-Bitcoin crypto exposure; and the performance of existing Ether ETFs as a potential indicator for alternative token funds. The industry faces a critical period of determining whether Bitcoin’s mainstream success can extend to other cryptocurrencies, while balancing regulatory compliance with market demand. Asset managers’ aggressive pursuit of alternative crypto ETFs could reshape the investment landscape, though success remains uncertain given current market skepticism and regulatory hurdles.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018