BlackRock labels BTC as ‘progress’ in latest spot Bitcoin ETF ad

lackRock has ramped up its media advertising campaign for its recently launched spot Bitcoin exchange-traded fund, labeling the asset not as a currency but as “progress.”

In its latest advertisement, the world’s largest asset manager maintained its relatively “boring” approach to advertising its IBIT fund at least compared to its competitors.

“Bitcoin ETFs have landed,” states the yellow advertisement, showing simply a silhouette of a runway and plane. However, BlackRock has added the caption: “Get your share of progress.”

The seemingly mundane marketing approach wasn’t overlooked by industry observers such as Bloomberg Intelligence ETF analyst Eric Balchunas, describing it as being in the “sweet spot between boring legacy fund and “‘hey fellow kids’ type stuff.”

The firm also mentions how the ETF standardizes BTC so it is just like stock and bonds in a portfolio, he added.

BlackRock’s first ETF advertisement, released on Jan. 11, also took a mature approach, targeting the affluent “boomer” market. Since the product launched, BlackRock has seen an inflow of $5.3 billion for its IBIT fund, according to Farside.

Moreover, the Bitcoin ETF marketing war has been heating up since Bitwise dropped the first ad in mid-December using actor Jonathan Goldsmith, who appeared as “The Most Interesting Man in the World.”

The promotional blitz accelerated after Google began allowing crypto ads earlier this month.

#news #btc #etf #blackrock

Feb-20-2024 08:21:18 AM