BlackRock has launched an extensive media advertising campaign to promote its recently introduced Bitcoin exchange-traded fund (ETF), positioning the asset as “progress” rather than a currency.
In its latest advertisement, the world’s largest asset manager has taken a relatively conservative approach compared to its competitors. The advertisement features a simple silhouette of a runway and a plane with the caption, “Bitcoin ETFs have landed. Get your share of progress.”
Industry experts have noticed BlackRock’s seemingly mundane marketing strategy. ETF analyst Eric Balchunas from Bloomberg Intelligence described it as a balance between the traditional and more trendy marketing styles.
Balchunas believes that BlackRock is poised to become the leader in terms of liquidity within the ETF category, and therefore, increasing its advertising efforts is a logical move.
Furthermore, the advertisement emphasizes how the ETF standardizes Bitcoin, making it comparable to stocks and bonds within a portfolio.
BlackRock’s initial ETF advertisement, released on January 11th, targeted the affluent “boomer” market with a mature approach. Since the launch of the product, the IBIT ETF has attracted $5.3 billion in inflows, according to Farside.
The Bitcoin ETF marketing competition has intensified since Bitwise released its first ad in mid-December 2023, featuring actor Jonathan Goldsmith as “The Most Interesting Man in the World.”
The promotional activities have escalated further following Google’s decision to allow cryptocurrency ads in February.
21Shares joined the marketing frenzy on February 15th by highlighting Bitcoin’s trillion-dollar market capitalization.
Coincidentally, whistleblower Edward Snowden also expressed his belief in Bitcoin’s future as the currency on February 19th.
In conclusion, BlackRock is strategically positioning its Bitcoin ETF as a symbol of progress through its advertising campaign. The approach is considered relatively conservative but effective, attracting significant inflows to the ETF since its launch. The competition among Bitcoin ETF marketing has intensified, with various players using different marketing strategies to attract investors.