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Fund management titan BlackRock called bitcoin “progress” in an announcement for its new bitcoin ETF (exchange-traded fund).
“bitcoin ETFs have landed,” says the ad, showing the silhouette of a runway and a plane. “Get your share of progress.”
BlackRock bitcoin ETF Ad Hits Going “To Kill”
Eric Balchunas, ETF analyst at Bloomberg Intelligence, said the iShares bitcoin Trust (IBIT) announcement was foundedD the “sweet spot between boring legacy background” and “the 'hey guys' stuff.”
With Black Rock about to distance itself from the rest in terms of assets under management, “looking for more announcements makes sense,” he said.
New $IR The ad just dropped. In my opinion simple, modern and effective. Right in the sweet spot, between the boring legacy fund ads and “hey guys” stuff. Strong advisor friendly vibes. BlackRock is about to walk away as the liquidity king of the category, but it makes sense to try to kill it with more announcements. https://t.co/V8VVgB2G8d
– Eric Balchunas (@EricBalchunas) February 19, 2024
IBIT, together with the Fidelity Wise Origin bitcoin Fund (FBTC), accumulated more than $3 billion in assets in its first month of operations. They are the only ETFs to surpass that milestone in the first month among more than 5,535 ETFs in the US.
“IBIT and FBTC are in a league of their own,” Balchunas saying earlier.
BlackRock bitcoin ETF Ads Targeting Wealthy Boomer Market
BlackRock has chosen to appeal to the wealthy boomer market. Its first ad, which launched on January 11, was praised like “so boring it's brilliant.”
In the video, BlackRock's US head of themes and alternatives. ETFs, Jay Jacobs, described the value proposition of bitcoin. He also explained how investors can gain exposure to the leading cryptocurrency through the asset manager's ETF.
Amazing Blackrock Ads on $IRthe Blackrock bitcoin Spot ETF.
Definitely reaching a new market of investors through $IR
– Alessandro Ottaviani (@AlexOttaBTC) January 14, 2024
Fred Krueger, a digital asset investor, was among those who praised BlackRock's earlier announcement and saying it is more acceptable to “rich boomers.” He added that his generation of wealthy investors will “happily add IBIT and FBTC” to his portfolios.
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