VanEck launched a media campaign after saying he ‘prefers to buy and hold Bitcoin’.
VanEek, an asset manager with a pending application for a spot Bitcoin (BTC) exchange-traded fund with the United States Securities and Exchange Commission, has launched a pro-crypto ad space.
In an X (formerly Twitter) post on December 29, VanEick released his “Born to Bitcoin” video, which clearly did not endorse the BTC exchange-traded product. The ad spot comes nearly two weeks after the asset manager said BTC would “buy and hold me” because the ad price was “high”.
It was born from Bitcoin. pic.twitter.com/qYI3bmZDvC
— VanEck (@vaneck_us) December 29, 2023
A number of asset managers with product applications that trade Pending Position BTC or Ether (ETH) with the SEC issued similar announcement positions prior to approval. Bitwise hired actor Jonathan Goldsmith to reprise his “Most Interesting Man in the World” character to promote Bitcoin in a December media campaign. Hashdex has launched an ad space that suggests issues for innovative technology like crypto.
Related: Bitcoin price won't hit like digital store: VanEck CEO
Many online criticized VanEck for the seemingly cheap quality of its ad space, given that the firm had more than $76 billion in assets under management as of September. The campaign In 2017, a fan held behind Janet Yellen held up a “Buy Bitcoin” sign, but it was mostly a picture of a city skyline in front of a city skyline.
The SEC has not approved BTC or ETH exchange-traded funds for listing on any US exchange at the time of publication. However, in 2021, the commission began to allow investment vehicles tied to crypto futures. Some experts have speculated that the SEC may approve multiple positions of crypto ETFs as early as January 2024.
Magazine: BlackRock Reviews BTC ETF Filing, El Salvador's Crypto-Citizenship on the Move, and More: Hodler Digest, December 10–16
