BlackRock labels BTC as ‘progress’ in latest spot Bitcoin ETF ad
BlackRock is promoting its new spot Bitcoin ETF with an ad that refers to Bitcoin as 'progress.'
BlackRock's Approach to Advertising its Bitcoin ETF
BlackRock has launched a media advertising campaign for its spot Bitcoin ETF, referring to the asset as 'progress' rather than a currency.
The advertisement features a yellow background with a silhouette of a runway and plane, accompanied by the caption 'Get your share of progress.'
This approach contrasts with its competitors and shows the firm's more conservative approach to advertising.
Industry Observations
Bloomberg Intelligence ETF analyst Eric Balchunas noted that BlackRock's marketing approach falls in the "sweet spot" between traditional and more targeted strategies.
He remarked on the company's liquidity position and stated that equating Bitcoin with progress, rather than a commodity or currency, is an interesting choice.
Additionally, Balchunas mentioned that the ETF standardizes Bitcoin, making it comparable to stocks and bonds in a portfolio.
Competition and Market Developments
BlackRock's first ETF advertisement targeted the affluent 'boomer' market, and since its launch, the iShares Bitcoin Trust (IBIT) ETF has seen inflows of $5.3 billion.
The Bitcoin ETF marketing landscape has become more competitive, with Bitwise and 21Shares also launching ad campaigns.
The promotional blitz has intensified after Google allowed crypto ads in February, and even whistleblower Edward Snowden praised Bitcoin as the future of money.
