In a bold move ahead of SEC’s decision on spot Bitcoin ETF, Bitwise Asset Management has launched an eye-catching commercial for its proposed spot Bitcoin Exchange-Traded Fund (ETF). This advertisement not only showcases Bitwise’s bullishness on BTC but also signals the beginning of what is expected to be a massive marketing blitz by the world’s largest asset managers in the crypto market.
Bitwise’s Bullish Move Ahead Of ETF Deadline
Amid ongoing application process with the US Securities and Exchange Commission (SEC), Bitwise has unveiled a new commercial for its spot Bitcoin ETF. The advertisement notably features actor Jonathan Goldsmith, renowned for his iconic portrayal of “The Most Interesting Man in the World.”
Bitwise said, “A word to the wise, from a man of few words. #bitcoinisinteresting.”
The new commercial from Bitwise, showcasing its spot Bitcoin ETF, seems to be specifically designed for older audiences, including Generation X and Baby Boomers. It exudes a refined and familiar elegance, a blend of the styles these generations frequently enjoy during TV show intervals and sports broadcasts. In the commercial, the actor states, “You know what’s interesting these days? Bitcoin. Look for Bitwise, my friends.”
This advertising initiative comes amid a crucial period as the SEC reviews various proposals for spot Bitcoin ETFs. Bitwise, along with a number of other financial institutions, is actively preparing to launch a spot Bitcoin ETF. Their goal is to create a seamless connection between the traditional financial sector and the rapidly evolving Bitcoin marketplace.
The Bitwise commercial stands out as a significant first step in mainstream cryptocurrency advertising. It is designed to capture the attention of investors and users, highlighting the future potential of Bitcoin.
Will SEC Take Legal Action?
Given that this development comes ahead of the SEC’s deadline for ETF approval, it could be seen as a positive indication that the SEC might greenlight ETF applications in January.
As a result, other applicants like BlackRock and Fidelity may also launch their own advertising campaigns, potentially triggering increased bullish sentiment. However, it remains unclear whether the SEC will pursue any legal actions in response to this advertisement.
Bitwise’s spot Bitcoin ETF is listed as BITB on the active and pre-launch list on the DTCC website, signaling progress in their quest for the first U.S. approval of a spot Bitcoin ETF. This listing, along with others like BlackRock and Fidelity on DTCC, fuels hop for SEC approval. Matt Hougan from Bitwise suggests this could lead to a Bitcoin price surge as an inflation hedge.
With the influx of applications, the anticipation of approvals has increased significantly. Continuous meetings between the SEC and the applying companies have further boosted this expectation. Now, industry specialists are forecasting a strong possibility of approvals coming through in 2024. The SEC is expected to make its announcement in the timeframe of January 8th to January 10th.
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