March 27, 2024
BlackRock's Latest Bitcoin ETF Ad Labels BTC as 'Progress'
Bitcoin ETF

BlackRock’s Latest Bitcoin ETF Ad Labels BTC as ‘Progress’

BlackRock, the world’s largest asset manager, has intensified its media advertising campaign for its recently launched spot Bitcoin exchange-traded fund (ETF), reframing the digital asset not as a currency but as “progress.”

In its latest advertisement, BlackRock maintains its characteristic “boring” approach to promoting its iShares Bitcoin Trust (IBIT) ETF, distinct from its competitors. The advertisement features a simple yellow backdrop with a silhouette of a runway and plane, accompanied by the statement, “Bitcoin ETFs have landed,” and the caption, “Get your share of progress.”

Industry observers, including Bloomberg Intelligence ETF analyst Eric Balchunas, have noted the seemingly mundane marketing approach. Balchunas described it as striking “the sweet spot between the boring legacy fund and ‘hey fellow kids’ type stuff.” He also highlighted BlackRock’s position as potentially becoming the “category liquidity king,” making additional advertising efforts sensible.

Balchunas further noted BlackRock’s unique framing of Bitcoin as “progress,” rather than simply a commodity or currency. He highlighted how the firm emphasizes the ETF’s role in standardizing Bitcoin, likening it to stocks and bonds within a portfolio.

BlackRock’s initial ETF advertisement, released on January 11, targeted the affluent “boomer” market with a similarly mature approach. Since the launch of the product, BlackRock has witnessed significant inflows, with its IBIT ETF accumulating $5.3 billion, according to Farside.

The Bitcoin ETF marketing landscape has been heating up, especially since Bitwise released its first ad in mid-December 2023, featuring actor Jonathan Goldsmith as “The Most Interesting Man in the World.” The promotional activity intensified following Google’s decision to permit crypto ads in February.

21Shares joined the fray on February 15, highlighting Bitcoin’s achievement of becoming a trillion-dollar asset in terms of market capitalization. Coincidentally, whistleblower Edward Snowden also weighed in on February 19, referring to BTC as the future of money, stating, “Bitcoin is the most significant monetary advance since the creation of coinage.”

BlackRock’s strategic advertising approach underscores the growing significance of Bitcoin and the increasing competition among ETF providers to attract investors in the rapidly evolving crypto market. As the landscape continues to evolve, firms like BlackRock are positioning themselves to capitalize on the growing demand for digital assets among both institutional and retail investors.


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