Financial titan BlackRock dropped a new advertisement 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 advertisement last week following the financial product’s groundbreaking approval from the U.S. Securities and Exchange Commission (SEC).
On Wednesday, the SEC approved all 11 spot BTC ETFs that were under consideration.
In the commercial, Jay Jacobs, BlackRock’s U.S. head of thematics and active equity ETFs, talks up the convenience and ease of investing in the asset manager’s new Bitcoin fund.
Jacobs also says digital asset adoption has “profound implications for the future of finance” and notes that some institutions and investors view Bitcoin as a “potential game-changer in how money moves around the world.”
Eric Balchunas, a senior ETF analyst at Bloomberg, says the commercial is a textbook example of how to market to “rich boomers.”
“The calm disposition, easy to understand investment case, soft new age music, suit with no tie.. everything about it says ‘it’s ok now, the adults are here.'”
Bitcoin ETF applicants worked 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 denied all previous spot Bitcoin ETF applications until last week’s set of approvals.
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