Bitcoin ETF Issuers Ignite Ad War, Bitwise Gains Upper Hand with Celebrity Campaign
Summary:
Three Bitcoin exchange-traded fund (ETF) issuers have launched crypto ads within two days amidst a growing promotional war. Bitwise debuted the first ad featuring actor Jonathan Goldsmith, followed by Hashdex with a distinct promotional ad, before Bitwise released a second ad. Social media responses favor Bitwise's campaign, demonstrating asset managers' confidence in a financial product awaiting official approval. Experts predict a 90% chance of receiving approval for at least one of the currently 13 pending Bitcoin ETFs. Bitcoin pioneer, Samson Mow, anticipates an intensifying battle over investors and assets, possibly involving more high-profile personalities in promotional campaigns.
The escalating crypto advertising war has recently seen three Bitcoin exchange-traded fund (ETF) issuers releasing three crypto ads over a span of two days. Bitwise was the first to introduce its Bitcoin ETF advertisement on December 18, featuring popular actor Jonathan Goldsmith, known for his iconic "Most Interesting Man in the World" persona. Soon after, on December 20, Hashdex released its own promotional crypto ad, highlighting its business with a dumper truck and distinct captions emphasizing the difference between crypto and other assets.
Undeterred, Bitwise followed up with a second concise ad starring Goldsmith on December 21. The ad contained a provocative message from Goldsmith encapsulating a promotion for Bitcoin. However, general sentiment drawn from social media reactions suggests that Bitwise's advertising strategy appears to be more successful.
Noteworthily, the fervor displayed by the two asset managers in promoting a financial product still awaiting regulatory approval reflects their high confidence. Experts estimate a 90% chance that the SEC will greenlight at least one, if not all, of the current 13 awaiting spot Bitcoin ETFs by January 10.
Reacting to the simmering promotional efforts for Bitcoin ETFs on December 20, Bitcoin pioneer and CEO of JAN3, Samson Mow, stated that the companies competing for a spot BTC ETF are essentially racing against each other for investors and assets. He highlighted brand promotion as their main strategy and predicted further intensification of this competition.
Mow further hinted at the possibility of seeing more renowned personalities, like Novak Djokovic or Michael Saylor, in upcoming Bitcoin ETF ads, suggesting a fascinating escalation to this advertising war.
Published At
12/21/2023 9:30:29 AM
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