- BlackRock launches a “simple and effective” Bitcoin ETF campaign.
- The reticent tone of advertisements successfully appealed to Boomers.
- Fidelity BlackRock outscores Michael Saylor’s MicroStrategy in AUM.
As Bitcoin exchange-traded funds ( ETFs ) enjoyed another successful week with $2.4 billion inflows, BlackRock’s $IBIT ETF is leading the pack with the lion’s share of $1.6 billion inflows over the last seven days, while Fidelity’s $FBTC garnered $648 million, according to CoinShares data.
Bitcoin ETF Presented as a Share of Progress
As the marketing face-off for all 11 approved Bitcoin ETFs is just starting, BlackRock launched a promotional campaign for their iShares Bitcoin Trust (IBIT). “Get your share of progress,” reads the yellow Bitcoin ETF plaque, explaining in further detail how iShares Bitcoin Trust curbs the leading digital asset to a standard similar to stock and bond trading.
Bloomberg’s Senior ETF Analyst Eric Balchunas asserted that the advertisement is “In sweet spot bt boring legacy fund co ad and “hey fellow kids” type stuff. Strong advisor-friendly vibes.” Indeed, the advertisement is targeted at a wider audience than usual, as the first BlackRock’s Bitcoin ETF ad dropped in January 2024 mostly appealed to the affluent Boomer generation.
The analyst added that it only makes sense to air another ad after the success of rival Bitwise, which saw massive success with a December 2023 ad also targeted at Boomers. The Man of Few Words, played by actor Jonathan Goldsmith, sums things up in one sentence: “You know what’s interesting these days? Bitcoin.”
BlackRock Hits $6B AUM Milestone, Others Follow
According to the latest blockchain data by LookOnChain, Blackrock’s iShares Bitcoin Trust ETF now contains 119,681 Bitcoins, equivalent to $6.23 billion at press time. With a hefty $1.6bn weekly top-up, BlackRock’s ETF now leads the race, as Fidelity’s $FBTC added $648 million over the same timeframe.
On January 10, 2024, when the U.S. Securities and Exchange Commission (SEC) granted permission to trade Bitcoin-backed exchange funds, BlackRock iShares Bitcoin Trust had 228 Bitcoin (BTC) under management. This depicts a 500% growth from the starting point, while most other competing ETFs shine bright green on the charts.
Combined, the two leading ETF issuers now hold 203,609 Bitcoins. With Fidelity’s 83,928 BTC and BlackRock’s Bitcoin ETF assets under management (AUM), the scale of these combined holdings outweighs known Bitcoin proponents, including MicroStrategy CEO Michael Saylor’s BTC stash. Third comes Bitwise, with a whopping increase of 22,057 Bitcoins after a relatively humble initial fund of 57 on January 10.
On The Flipside
- Grayscale GBTC ETF, the largest Bitcoin exchange-traded fund (ETF) by far, continues to witness outflows from investors, who cashed out $623 million from Grayscale’s GBTC ETF last week.
Why This Matters
Bitcoin ETF demand in TradFi and emerging advertisement opportunities signify a breakthrough in retail crypto adoption.
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