Bitwise Rolls Out Bitcoin ETF Ad as Approval Quest Continues
Bitwise Asset Management unveiled a new commercial this week urging viewers to “look for Bitwise.” The commercial comes amid the firm’s ongoing quest to launch a Bitcoin exchange-traded fund (ETF).
The ad arrives as Bitwise and over a dozen other applicants vie for regulatory approval of what would be the first spot Bitcoin ETF in the U.S. Now Bitwise, a crypto-focused index fund manager, is making a public case for why the time is right for a fund giving mainstream investors pure exposure to Bitcoin.
The commercial asks viewers to look for Bitwise
In the 15-second commercial, an older gray-haired actor drinks whiskey and states, “You know what’s interesting these days? Bitcoin. Look for Bitwise, my friends.”
The promotional stunt suggests the firm’s belief that conveying the legitimacy of crypto to older demographics is key to propelling adoption. The commercial’s retro aesthetic also bridges traditional finance visuals with the disruptive concept of a spot Bitcoin ETF.
Read more: Circle Expands Euro Stablecoin To Solana
Amended applications for a Bitwise Bitcoin ETF were filed earlier this month. However, filings have stacked up without SEC approval as regulators cite risks like crypto volatility and the potential for manipulation.
Nonetheless, surging interest from retail and institutions has prompted renewed efforts on the ETF front. More than 13 firms have filed for Bitcoin ETF approval with the SEC.
The ETF application pile-up has sparked a race of sorts for issuers seeking first-mover advantage with what will likely be an explosively popular product. Of course, the SEC may also opt to greenlight multiple-spot Bitcoin ETFs if suitable protections are put in place.
