Spot Bitcoin ETF issuers rolled out three crypto ads in just two days. Market rumor is that the ads stem from the confidence that issuers have in U.S. Securities and Exchange Commission (SEC) approval.
What Happened: The first advertisement was launched by Bitwise on Dec. 18 featuring actor Jonathan Goldsmith.
"Look for Bitwise, my friends," Goldsmith says, channeling his "most interesting man in the world" character from Dos Equis beer commercials.
Second, was a promotion by Hashdex on Dec. 20. The advertisement features a dump truck with the captions: “Stocks aren’t crypto, fixed income isn’t crypto, precious metals? Nope, not crypto either,” before promoting the firm.
On Dec. 20, Bitwise showcased another short ad featuring Goldsmith where he said, “Thought you would like to know, Satoshi sends his regards.”
These advertisements highlight the confidence of ETF applicants even before the SEC has approved the product to be regulated. SEC window for approving the Spot Bitcoin ETF is between Jan. 5 to Jan. 10, 2024. Currently, many of the applicants have been meeting the SEC.
Why It Matters: JAN3 CEO Samson Mow stated on social media that marketing and branding are significant, but that the issuers will be on a constant run to expand their assets under management and customer base.
He also says that if you find Goldsmith interesting, wait until BlackRock BLK makes an ad with Serbian tennis player Novak Djokovic saying “#Bitcoin is for winners," or, the Fidelity Super Bowl ad with MicroStrategy CEO Michael Saylor saying there is no second-best ETF.
Kashif Raza, a crypto analyst, took to his X account and said that with three TV advertisements by ETF companies in 48 hours, “There is going to be a cutthroat competition to gain the market share among Bitcoin Spot ETFs.”
Price Action: At the time of writing, BTC is changing hands at $43,652 with past 24-hour gains of 0.2% taking its 7-day gains to 4%. Trading volume in the past 24 hours is down 12%.
Now Read: Ethereum Dethroned: Solana Memes Like Bonk, Samoyed Coin, Dogwifhat Unleash $1.5B DEX Frenzy
Image: Pixabay
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