Home Blockchain Bold BlackRock Ad Campaign Says iShares Bitcoin ETF is “Progress”

Bold BlackRock Ad Campaign Says iShares Bitcoin ETF is “Progress”

0
Bold BlackRock Ad Campaign Says iShares Bitcoin ETF is “Progress”

Hassan Shittu

Last updated:

| 2 min read

Bold BlackRock Ad Campaign Says iShares Bitcoin ETF is “Progress”

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

In contrast to the flashy marketing strategies employed by its competitors, the campaign for the iShares Bitcoin ETF (IBIT) fund adopts a notably understated style.

BlackRock’s iShares Bitcoin ETF Ad Strikes a Balance Between Tradition and Innovation


The advertisement features a minimalist design with a yellow background and a silhouette of a plane on a runway, accompanied by the message, “Get your share of progress.”

This subdued approach has garnered attention from industry experts, including Bloomberg Intelligence ETF analyst Eric Balchunas, who noted that BlackRock’s strategy strikes a balance between traditional fund advertising and appealing to a younger demographic.

Balchunas further highlighted BlackRock’s potential to dominate the ETF category in terms of liquidity, suggesting that the ramped-up advertising efforts represent a strategic move.

He also found it noteworthy that BlackRock associates Bitcoin with the concept of progress rather than strictly categorizing it as a commodity or currency.

The narrative emphasized in the firm’s advertising also highlights the standardization of Bitcoin within investment portfolios, akin to stocks and bonds.

This messaging was evident in BlackRock’s initial advertisement for the IBIT fund, which was unveiled on Jan. 11, targeting the affluent older generation. Since its inception, the IBIT fund has attracted significant inflows, totaling $5.3 billion, as reported by Farside.

Bitcoin ETF Advertising Heats Up Amid Record Inflows


The surge in advertising activity coincides with Google’s recent decision to allow crypto-related ads earlier this month, marking a notable shift in the digital advertising landscape for cryptocurrencies.

The iShares Bitcoin ETF (IBIT) has experienced remarkable growth, surpassing its closest competitor, Fidelity’s FBTC, by a significant margin.

According to Bitguide data, IBIT is approaching $5.4 billion in inflows, compared to FBTC’s $3.75 billion. The gap between the two ETFs has widened notably, with IBIT steadily pulling ahead over the past two weeks.

CoinShares, in its recent weekly digital asset report, also highlighted the surge in crypto flows, noting nearly $2.5 billion in inflows last week.

This surge marks the highest level of inflows since December 2021, a period when Bitcoin was consolidating following its all-time high above $69,000. Notably, the Bitcoin price breached the $52,000 level once again last week before experiencing a slight pullback.

Particularly noteworthy is the increasing interest in spot Bitcoin ETFs, especially those recently approved in the United States. This interest has overshadowed the outflows from Grayscale’s Bitcoin Trust, which has transitioned into an ETF format.

However, the competition in the Bitcoin ETF marketing arena has been heating up, with Bitwise releasing its first ad in mid-December 2023 featuring actor Jonathan Goldsmith as “The Most Interesting Man in the World.” The promotional frenzy intensified following Google’s decision to allow crypto ads earlier in February.

21Shares also joined the fray, highlighting Bitcoin’s achievement of reaching a trillion-dollar market capitalization in its promotional efforts on February 15. Additionally, whistleblower Edward Snowden weighed in on February 19, referring to BTC as the future of money, further adding to the buzz surrounding the cryptocurrency.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here