- BlackRock’s latest advertisement for its spot bitcoin ETF takes a conservative approach, simply labeling bitcoin as “progress” and a way to “standardize” it like stocks and bonds. This contrasts with more aggressive marketing by competitors.
- The ad caught attention for striking a balance between “boring” and “hey fellow kids” approaches. BlackRock is ramping up marketing with $65B flowing into its bitcoin ETF since launch.
- Unlike competitors portraying bitcoin as a currency/commodity, BlackRock uniquely positioned it as synonymous with progress itself. This careful messaging targets baby boomer investors.
Asset management giant BlackRock is continuing its measured approach to promoting its new spot bitcoin exchange-traded fund (ETF), labeling the cryptocurrency simply as “progress” in its latest ad.
The Mature Messaging Behind BlackRock’s Ad Campaign
In its most recent advertisement, the world’s largest asset manager maintained its relatively sedate stance on advertising its iShares Bitcoin Trust (IBIT) ETF, taking a more conservative route compared to competitors in the bitcoin ETF space.
“Bitcoin ETFs have landed,” states the ad, which shows a silhouette of a runway and plane. BlackRock adds the caption, “Get your share of progress.”
The seemingly low-key marketing tactic caught the eye of industry watchers. Bloomberg Intelligence ETF analyst Eric Balchunas described it as striking the perfect balance “between the boring legacy fund and ‘hey fellow kids’ type stuff.”
With the ETF space heating up, Balchunas noted that BlackRock was wise to ramp up advertising for its product, which has seen inflows of $65 billion since launching.
An Unexpected Equating of Bitcoin and Progress
Interestingly, BlackRock chose to equate bitcoin not with a commodity or currency, but with the notion of progress itself.
“They equate Bitcoin not with a commodity or a currency but with progress,” Balchunas pointed out.
The advertisement also mentions how the ETF “standardizes” bitcoin, making it comparable to stocks and bonds in an investment portfolio.
BlackRock’s first ETF ad in January also used careful messaging to target affluent baby boomer investors. The muted tone stands in contrast to competitors like Bitwise, which employed actor Jonathan Goldsmith of “The Most Interesting Man in the World” fame for its first Bitcoin ETF ad spot.
With Google lifting its cryptocurrency advertising ban in February, marketing spends in the red-hot ETF space are likely to keep ramping up. For now, BlackRock seems content to let its first-mover advantage speak louder than flashy promotional campaigns.
