BlackRock first Spot BTC commercial.
BlackRock's approach to advertising its recently launched iShares Bitcoin Trust ETF (IBIT) has diverged from the flashy campaigns of its counterparts, opting for a more subdued strategy. In the inaugural video ad released on January 11, BlackRock presents a nearly two-minute segment featuring an executive outlining Bitcoin's value proposition and the accessibility of their new ETF.
Jay Jacobs, BlackRock's U.S. head of thematics and alternative ETFs, emphasizes IBIT's ease of access, operational simplicity, and the backing of BlackRock's esteemed reputation in the ETF space.
Notably, the advertisement consciously avoids the flamboyance and crypto-centric terminology often found in Bitcoin ETF promotions.
Bloomberg ETF analyst Eric Balchunas observes that this reserved marketing approach resonates with affluent baby boomers, noting the calm demeanor, clear investment case, soothing music, and the executive's attire projecting a reassuring image. Chris Dark, founder of Fourth Turning Investments, goes further, describing the ad as "so boring it's brilliant," highlighting its effectiveness in capturing the attention of the boomer demographic.
Digital asset investor Fred Krueger aligns with this sentiment, emphasizing the appeal of the advertisement to wealthy boomers who may not resonate with more unconventional marketing approaches. He sees the involvement of traditional finance firms like BlackRock and Fidelity in Bitcoin investments as a Wall Street takeover of the Bitcoin narrative, predicting minimal resistance.
In the competitive landscape of Bitcoin ETF marketing, BlackRock's strategy stands out for its simplicity and targeting of a specific demographic. While other issuers engage in a more vibrant advertising war, BlackRock's approach appears to strike a chord with the older, affluent investor base. The battle for market share in the Bitcoin ETF space continues, with various issuers deploying diverse advertising strategies to attract investors.
This is how you market to rich boomers, folks. The calm disposition, easy to understand inv case, soft new age music, suit with no tie.. everything about it says “it’s ok now, the adults are here”
The reaction to the BlackRock commercial has been wild, mind-melting for many, but i get it. I think watching it (vs 19b-4 updates or even early data on volume/flows) really makes it all so real what the ETF approval represents: two very dif worlds colliding for better or worse.
Many of the ads so far have been really good I thought albeit using different approaches. Each issuer has done good job being themselves and this is definitely very BlackRock-y.