BlackRock has launched an extensive advertising campaign for its newly introduced Bitcoin exchange-traded fund (ETF), rebranding the asset as “progress” rather than a currency.
In its most recent advertisement, the world’s largest asset manager maintained its relatively conservative approach to promoting its iShares Bitcoin Trust (IBIT) ETF, setting it apart from its competitors. The advertisement, featuring a silhouette of a runway and plane, simply states, “Bitcoin ETFs have landed.” BlackRock adds the caption, “Get your share of progress.”
Industry experts, including Bloomberg Intelligence ETF analyst Eric Balchunas, noted the seemingly mundane marketing strategy, describing it as striking a balance between a traditional investment fund and more flashy, youth-oriented promotions.
Balchunas also mentioned that BlackRock is on the verge of becoming the dominant player in the ETF market and that increasing its advertising efforts makes sense in this context. He highlighted that the firm emphasizes how the ETF standardizes Bitcoin, making it comparable to stocks and bonds in a portfolio.
BlackRock’s initial ETF advertisement, released on January 11, also targeted the affluent “boomer” market, taking a mature approach. Since the product’s launch, the IBIT ETF has attracted $5.3 billion in inflows, according to Farside.
The Bitcoin ETF marketing competition has intensified since Bitwise released the first ad in mid-December 2023, featuring actor Jonathan Goldsmith as “The Most Interesting Man in the World.” The promotional frenzy gained momentum after Google allowed crypto ads in early February.
21Shares joined the marketing race on February 15, highlighting Bitcoin’s trillion-dollar market capitalization. Additionally, whistleblower Edward Snowden referred to BTC as the future of money on February 19.
Overall, the battle to promote Bitcoin ETFs has become increasingly fierce, with each company striving to differentiate itself and capture a share of the growing market.