In a departure from the flashy pop-culture-inspired advertisements of other prominent spot Bitcoin ETF providers, BlackRock has opted for a more subdued approach with its latest iShares Bitcoin Trust ETF (IBIT).
Released on Thursday, January 11, 2024, BlackRock’s video ad features Jay Jacobs, the firm’s US head of thematics and alternative ETFs, emphasizing the value proposition of Bitcoin and how IBIT can offer investors exposure to the cryptocurrency.
Amazing ads from Blackrock on $IBIT, the Blackrock Bitcoin Spot ETF.
Definitely a new market of investors is reached through $IBIT
— Alessandro Ottaviani (@AlexOttaBTC) January 14, 2024
Jacobs highlights the accessibility of IBIT, issued under BlackRock’s reputable expertise, and its capacity to replace operational burdens. The advertisement, characterized by its lack of glitz and avoidance of crypto jargon, has stirred up discussions within the crypto community.
BlackRock’s Ad Receives Mixed Responses From the Crypto Community
Some commentators believe this seemingly unattractive marketing approach might be the secret recipe for its success. Bloomberg ETF analyst Eric Balchunas commended the asset management giant for their unique marketing style, noting that it was how to advertise “to rich boomers.”
However, some other commentators observed an intentional lack of flair, in addition to crypto jargon, in contrast to other Bitcoin ETF marketing ads. Fourth Turning Investments’ founder and managing partner, Chris Dark, noted that the investment giant put up an ad that was “so boring it’s brilliant.”
BlackRock entered the Bitcoin ETF market with an advertisement later than some competitors, with Bitwise being the first to release its marketing ad on December 18, 2023. Hashdex and VanEck followed suit and released theirs on December 28 and 29, 2023, respectively. Notably, Valkyrie’s Bitcoin ETF ad was reported to have made an appearance on the Nasdaq billboard in Times Square, New York, on January 13, 2024.
???????? Valkyrie’s spot #Bitcoin ETF spotted on the Nasdaq’s billboard in times square ???? pic.twitter.com/VSArrxNkkd
— Bitcoin Magazine (@BitcoinMagazine) January 13, 2024
It’s worth noting that many ETF providers, such as Invesco Galaxy, Franklin Templeton, and VanEck, have added new Bitcoin exchange-traded funds to their website homepages. Fidelity Investment and BlackRock have also done the same.
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