Spot Bitcoin exchange-traded fund (ETF) issuers have fired two new salvos in a brewing crypto marketing war, rolling out a total of three crypto ads in just two days.
Bitwise rolled the first Bitcoin ETF advertisement on Dec. 18 featuring actor Jonathan Goldsmith, known for his "Most Interesting Man in the World" character from an advertising campaign with Dos Equis beer.
Days later on Dec. 20, Hashdex published its crypto advertisement featuring a dumper truck with the captions “Stocks aren’t crypto, fixed income isn’t crypto, precious metals? nope, not crypto either,” before promoting the firm.
“Thought you would like to know, Satoshi sends his regards,” Goldsmith said, continuing in character to promote Bitcoin.
However, the consensus from responses across social media was that Bitwise’s advertising campaign came out on top.
Notably, the branding push from the two asset managers shows an outsized deal of confidence in a financial product that has yet to receive regulatory approval.
Analysts have pegged the odds of the SEC approving one or all of the 13 pending spot Bitcoin ETFs at 90% by Jan. 10.
On Dec. 20, Bitcoin pioneer and JAN3 CEO Samson Mow commented on the significance of the marketing campaigns for Bitcoin ETFs.
Mow explained the companies vying for a spot BTC ETF are all in competition with one other for investors, inflows, and assets under management, adding that their primary weapons are branding.
“This battle for the Bitcoin orange glow is going to heat up like you can’t imagine,” he wrote.
“Think Jonathan Goldsmith is interesting? Wait until BlackRock makes the ad with Novak Djokovic saying ‘Bitcoin is for winners’. Or the Fidelity Super Bowl ad with Michael Saylor saying there is no second-best ETF.”
Source : Cointelegraph by Martin Young / Dec 21, 2023