BlackRock Launches a Considered ‘Subtle’ Advertising Campaign for its Bitcoin ETF, Contrasting with the Flashier Approaches of Other Issuers
Investment giant BlackRock has adopted a advertising strategy described as ‘subtle’ for its Bitcoin Spot ETF, the iShares Bitcoin Trust ETF (IBIT). The first advertisement, released on January 11th, features a nearly 2-minute video where a BlackRock executive outlines the value proposition of Bitcoin and how investors can access the new ETF.
Subtlety as an Asset for the Titan BlackRock
Unlike typical advertisements for crypto products, which often use pop-cultural references and catchy images, BlackRock’s advertising stands out for its lack of flair and crypto jargon. Bloomberg analyst Eric Balchunas notes that this calm and easy-to-understand approach is particularly suited for targeting affluent ‘boomers.’
Chris Dark, founder of Fourth Turning Investments, describes the ad as ‘so boring it’s brilliant,’ highlighting its effectiveness with this investor segment.
Marketing Battle of Bitcoin Spot ETFs
Since Bitwise’s first advertisement on December 18th, the marketing battle for Bitcoin ETFs has intensified. Other issuers such as Hashdex, Grayscale, VanEck, ARK Invest, and Valkyrie have also launched advertising campaigns. However, BlackRock stands out by taking an approach that diverges from the usual trends in crypto advertising, instead aiming to establish a connection with a more traditional and conservative audience.
This strategy by BlackRock could have a significant impact on the Bitcoin ETF market. By targeting older and affluent investors, BlackRock is paving the way for a new wave of investors in the cryptocurrency space. This could lead to increased adoption by market segments that have been hesitant to engage in the crypto space.
