Financial titan BlackRock dropped a new ad for its recently approved Bitcoin (BTC) exchange-traded fund (ETF), saying it’s “a new day” for the crypto king.
BlackRock, the largest asset manager in the world, released the ad last week following the landmark approval of the financial product by the US Securities and Exchange Commission (SEC).
On Wednesday, the SEC approved all 11 spot BTC ETFs that were pending.
In the commercial, Jay Jacobs, head of thematics and active equity ETFs at BlackRock in the US, talks about the ease of investing in the asset manager’s new Bitcoin fund.
Jacobs also says that the adoption of digital assets has “profound implications for the future of finance” and notes that some institutions and investors see Bitcoin as a “potential game-changer in the way money moves around the world.”
Eric Balchunas, senior ETF analyst at Bloomberg, say the commercial is a textbook example of how to market to ‘rich boomers’.
“The calm character, the easy-to-understand investment case, soft new age music, the suit without a tie. Everything about it says, ‘It’s okay now, the adults are here.’”
Bitcoin ETF applicants have been working with the SEC for months to refine their proposals. The regulator approved the launch of the country’s first Bitcoin futures ETFs in October 2021, but had rejected all previous spot Bitcoin ETF applications until last week’s batch of approvals.
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Generated image: Midjourney