BlackRock announces ‘boomer’ Bitcoin ETF as trading blitz rises
BlackRock may have gone with a boring ad campaign for its bitcoin (BTC) exchange-traded fund (ETF), but it may just be the secret sauce for the wealthy boomer market, analysts say.
On January 11, investment giant BlackRock released the first video announcement for its newly launched iShares Bitcoin Trust ETF (IBIT). The ad features a nearly two-minute video featuring a BlackRock executive explaining Bitcoin's value proposition and how investors can gain exposure to the new ETF.
Jay Jacobs, BlackRock's US head of thematic and alternative ETFs, said in the announcement that EBT is easily accessible, conveniently removes operational burdens and leverages BlackRock's reputation and ETF space. Commenters noted a deliberate lack of sophistication compared to other Bitcoin ETF promotions.
Amazing announcements from Blackrock on $IBIT, Blackrock Bitcoin Spot ETF.
Certainly a new investor market will be reached through $IBIT
pic.twitter.com/HxUZqE65kv
— Alessandro Ottaviani (@AlexOttaBTC) January 14, 2024
“For rich boomers, folks, this is how you market. A calm spirit, an easy-to-understand Envy theme, soft new-age music, a no-tie suit… it all says “it's cool now, the adults are here,” noted Bloomberg ETF analyst Eric Balchunas in a Jan. 14 post on X. (formerly Twitter).
Chris Dark, founder and managing partner of Fourth Circle Investments, called the ad “so boring it's brilliant” because of its apparent effectiveness in targeting boomers.
Oh my god, this is a great Boomer ad for the Blackrock BTC ETF.
All the things that make BTC maxis crazy
The ad is too boring (for the target audience) https://t.co/zwW1HgGQSP
— Dr. Chris Dark (@Darky999) January 14, 2024
Digital asset investor Fred Kruger also sees the ad as more appealing to “wealthy seekers.”
“My generation of rich people doesn't particularly like tattooed Gen-xers who think the entire financial system needs to be dismantled.” But they are happy to be able to invest in Bitcoin through traditional financial institutions.
“We are excited to add IBIT and FBTC to our portfolios, because we trust BlackRock and Fidelity. […] This wall way is Bitcoin narrative control. Resistance would be futile.
Related: Spot Bitcoin ETF Approved in US: What to Expect Next
The Bitcoin ETF trading war is heating up after the first announcement was dropped from Bitwise on December 18, 2023. ETF issuers Hashdex and VanEck issued announcements soon after.
In January, ARK Invest and Grayscale released new advertising campaigns, and the Valkyrie Bitcoin Fund, ticker BRRR, was seen advertising on a Nasdaq billboard in Times Square, New York City on January 13.
$BRRR @ValkyrieFunds Bitcoin ETF ad on @NasdaqExchange billboard in Times Square NYC pic.twitter.com/ogNNPuP7ku
— Martyparty (@martypartymusic) January 13, 2024
Meanwhile, several ETF issuers, including VanEyck, Invesco Galaxy and Franklin Templeton, have introduced the new Bitcoin ETF on their homepages, while BlackRock and Fidelity Investments are said to have followed suit.
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