Key takeaways:
- Bitwise, a major player in the Bitcoin ETF quest, reveals a compelling SEC approval push with a latest Ad.
- Bitwise’s commercial targets older generations, stars actor Jonathan Goldsmith, “The Most Interesting Man.”
Bitwise, amid its ongoing application process with the US Securities and Exchange Commission (SEC) for a spot Bitcoin ETF, has officially launched a new commercial featuring actor Jonathan Goldsmith, renowned for his portrayal of the “Most Interesting Man in the World.”
The concise 15-second ad, designed to promote Bitcoin, has drawn attention in the crypto community and beyond.
In the commercial, 85-year-old Goldsmith captures viewers’ attention by posing the question, “You know what is...” The ad strategically avoids the use of tickers, a move praised by Eric Balchunas, senior ETF analyst from Bloomberg, who described it as an early shot in the Bitcoin ETF marketing war.
An extended version of the commercial features Bitwise Chief Investment Officer Matt Hougan delivering the same line before Goldsmith takes over.
This strategic marketing move comes as the industry anticipates potential approval for spot Bitcoin ETFs, prompting firms to engage in robust marketing efforts to compete for assets.
Goldsmith, known for his role as “The Most Interesting Man in the World” from 2006 to 2018, brings a familiar and charismatic presence to the campaign. The previous commercials featuring his character included humorous “facts,” such as being the only man to ace a Rorschach test and being on the upgrade list for flights he hadn’t even checked into.
Major players, including BlackRock, Fidelity, and Invesco, are eyeing the launch of spot Bitcoin ETFs. In particular, Bitwise finds itself among a dozen contenders striving to introduce the first approved spot Bitcoin ETF in the United States.
This commercial not only serves to increase Bitwise’s visibility but also signals the company’s confidence in a positive outcome from the SEC’s review.
Bitwise’s ‘Bitcoin is Interesting‘ campaign is set to make waves across TV, digital, and social media platforms, marking the initiation of a fierce marketing battle. The ad is scheduled to air on major networks like CNBC, Bloomberg, and Fox Business Network.
Nate Geraci, President of The ETF Store, anticipates an intense marketing competition, noting that this is just the beginning, even before the launch of spot Bitcoin ETFs.”
The SEC’s historical reluctance to approve a spot Bitcoin ETF has been a source of frustration for many crypto enthusiasts and investors. However, recent trends and discussions indicate a potential shift in regulatory sentiment.
Experts cautiously express optimism about a possible approval in 2024, a sentiment echoed by Bitwise’s commercial, which reflects a growing belief in a favorable regulatory landscape for the cryptocurrency industry.
