BlackRock Calls Bitcoin ''Progress'' As It Goes ''For Kill'' With New Bitcoin ETF Ad

BlackRock Calls Bitcoin ”Progress” As It Goes ”For Kill” With New Bitcoin ETF Ad

Updated: 20 February 2024

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Fund management titan BlackRock called Bitcoin “progress” in an advertisement for its new Bitcoin ETF (exchange-traded fund).

“Bitcoin ETFs have landed,” says the advertisement, showing a silhouette of a runway and a plane. “Get your share of progress.”

BlackRock Bitcoin ETF Ad Hits Goes ”For Kill”

Bloomberg Intelligence ETF analyst Eric Balchunas said the ad for the iShares Bitcoin Trust (IBIT) found the “sweet spot between the boring legacy fund” and “‘hey fellow kids’ type stuff.”

With BlackRock on the verge of pulling away from the pack in terms of assets under management, ”going for kill w more ads makes sense,” he said.

New $IBIT ad just dropped. IMO simple, modern, effective. In sweet spot bt boring legacy fund co ad and “hey fellow kids” type stuff. Strong advisor-friendly vibes. BlackRock on brink of pulling away as the category liquidity king, going for kill w more ads makes sense. https://t.co/V8VVgB2G8d

— Eric Balchunas (@EricBalchunas) February 19, 2024

IBIT, together with the Fidelity Wise Origin Bitcoin Fund (FBTC), amassed more than $3 billion in assets in their first month of trading. They are the only ETFs to pass that milestone in the first month out of more than 5,535 ETFs in the US.

“IBIT and FBTC are in a league of their own,” Balchunas said earlier.

BlackRock’s Bitcoin ETF Ads Aimed At Wealthy Boomer Market

BlackRock has opted to appeal to the wealthy boomer market. Its first ad, which was released on Jan. 11, was praised as “so boring it’s brilliant.”

In the video, BlackRock’s US head of thematics and alternative ETFs, Jay Jacobs, outlined Bitcoin’s value proposition. He also explained how investors can gain exposure to the leading cryptocurrency through the asset manager’s ETF.

Amazing ads from Blackrock on $IBIT, the Blackrock Bitcoin Spot ETF.

Definitely a new market of investors is reached through $IBIT

pic.twitter.com/HxUZqE65kv

— Alessandro Ottaviani (@AlexOttaBTC) January 14, 2024

Fred Krueger, a digital asset investor, was among those who praised BlackRock’s earlier advertisement, and said it is more palatable for “wealthy boomers.” He added that his generation of wealthy investors will be “happily adding IBIT and FBTC” to their portfolios.