TL;DR
- Bitwise Asset Management begins the race to market Bitcoin ETF to prospective investors. It showed its first video ad on social media X.
- The ad video features Jonathan Goldsmith, known for showcasing the “Most Interesting Man in the World” for Dos Equis beer commercials.
Bitwise’s Bitcoin ETF Advertisement Features Jonathan Goldsmith
As the deadline to approve spot bitcoin ETF looms, the marketing war has officially started.
According to experts, many issuers are seeking to win this market share, which is estimated to be worth billions of dollars.
Through social media X, Bitwise Asset Management launched what looks like the first-ever ad for the Bitcoin ETF product.
It showed a video advertisement that featured Jonathan Goldsmith. In the video, he tells the audience that the most interesting thing these days is Bitcoin (BTC).
The dialogue references Goldsmith’s remarkable role as the “Most Interesting Man in the World” in ads for Dos Equis Beer.
Bitwise reiterated that its advertisement campaign would appear across social, TV, and digital channels.
In addition, it will incorporate significant business news networks like CNBC, Fox Business Network, and Bloomberg.
Bitwise Among Potential Bitcoin EFT Issuers
Potential Bitcoin ETF firms, including Bitwise, have applied with the U.S. SEC to launch spot Bitcoin funds.
The elusive spot Bitcoin fund campaign arrives as the Bitwise Bitcoin ETF application awaits approval.
Spot Bitcoin fund may expose investors to physically-backed Bitcoin if approved. It will, therefore, leave behind Bitcoin futures contracts.
Moreover, the approval may further integrate cryptocurrencies into mainstream finance, marking a significant milestone for digital assets.
Many ad issuers believe the SEC may approve various applications to evade giving a single firm a first-mover advantage.
This means that the ETF market may see identical exchange-traded funds for a novel asset class entering the market simultaneously.
There’s this perception in ETF land that it’s ‘winner take all’, and that’s built on a history where an ETF came to market first. But what are the examples where ETFs lined up in Washington all at the same time? None.
Matt Hougan, Chief investment officer of Bitwise, stated.
The Race for Spot Bitcoin ETF
Bitwise was wise about not specifying its product. Its ad didn’t mention a ticker, let alone ETF, to avoid forfeiting promotional rules.
Usually, most ETF firms will go into a quiet period before a fund is approved. Even with strict rules for ETF marketing, issuers may start taking pages out of the book of the crypto world.
Referring to companies advertised in waged marketing campaigns and the Super Bowl caused some celebrities to get into legal issues.
ARK Invest CEO Cathie Wood foresees a massive marketing blitz if spot Bitcoin funds are approved.
She reiterated that small firms may use all their firepower against giants like Fidelity Investments and BlackRock Inc.
Interest in ETFs from giants like BlackRock has heightened excitement in the crypto sphere. The anticipated approval may open avenues for traditional capital to flow into digital gold.
Will the SEC approve multiple spot Bitcoin funds for various firms coming Jan. 10, 2024?
Suchet Salvesen
Suchet is a Norwegian economist, entrepreneur, and investor, serving as the CFO and COO of Brainfund. With over a decade of experience in global expansion, venture capital, and emerging technologies, he earned his MBA from the NMBU School of Business & Economics. He held dual bachelor's degrees from the University of South-Eastern Norway. His career spans roles at NextToMe, Get, and Conax before joining Everipedia, now Brainfund, in 2017.
