Bitwise’s Big Move on ETF Deadline
Bitwise Asset Management has released a new commercial for its proposed spot Bitcoin Exchange-Traded Fund (ETF) as it waits for SEC’s decision. The ad features actor Jonathan Goldsmith and is aimed at older generations, showcasing a blend of elegance and familiarity.
Bitwise said, “A word to the wise, from a man of few words. #bitcoinisinteresting.”
The commercial, targeted at Generation X and Baby Boomers, aims to bridge the traditional financial sector with the evolving Bitcoin market. This marketing strategy is an attempt to attract investors and users, drawing attention to the potential of Bitcoin.
SEC’s Response to Bitwise’s Move
Bitwise’s ad comes just before the SEC’s ETF approval deadline, possibly signaling a positive indication of approval. If approved, other applicants like BlackRock and Fidelity may follow with their campaigns, potentially boosting bullish sentiment. However, the SEC’s potential legal response to the advertisement remains uncertain.
Bitwise’s spot Bitcoin ETF is listed as BITB on the DTCC website, representing progress in their quest for approval. This, along with similar listings from BlackRock and Fidelity, has raised hopes for SEC approval. Matt Hougan from Bitwise suggests this could lead to a Bitcoin price surge as an inflation hedge.
Experts anticipate a high possibility of approvals coming through in 2024, as continuous meetings between the SEC and the applying companies have increased expectations. The SEC is expected to make its announcement from January 8th to January 10th.
Hot Take: Bitwise’s Bold Marketing Strategy
Bitwise Asset Management’s bold move ahead of the SEC’s decision on spot Bitcoin ETF with its newly launched commercial has significant implications for the crypto market. The advertisement, targeted at older audiences, is designed to bridge the gap between traditional finance and the growing Bitcoin market, paving the way for mainstream cryptocurrency advertising. This move may have far-reaching effects, potentially triggering a surge in Bitcoin prices if the SEC approves the spot Bitcoin ETF applications.
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