Wall Street Journal marketing reporter Patrick Coffee points out eccentric and alarming trends in promotional coverage of Bitcoin ETFs. The most anticipated investment products could be aimed at terra incognita through major social media platforms.
Wall Street Journal marketing reporter Patrick Coffee points out eccentric and alarming trends in promotional coverage of Bitcoin ETFs. The most anticipated investment products could be aimed at terra incognita through major social media platforms.
Facebook and Instagram Could Join Google Search in Bitcoin ETF Advertising
Spot Bitcoin (BTC)-based exchange-traded funds target baby boomers as a prominent part of their potential audience. As the SEC gave the green light to BTC ETFs in the US, the largest social media platforms could be considering publishing their promotional materials.
In his last long read Crypto Marketers Have a New Target Audience: Your MomPatrick Café of the Wall Street Journal tracks how the asset managers behind the 11 US Bitcoin ETFs are expanding their campaigns to make them visible to boomers. This demographic cohort includes the generation of people born between 1946 and 1964 during the baby boom of the mid-20th century.
Due to the specifics of boomers’ media consumption patterns, these captivating ad campaigns won’t look like FTX promotions featuring football legend Tom Brady and NCAA superstar Deshaun Highler.
For example, VanEck demonstrated a fictional conversation in which a mother asks her son about new opportunities to buy Bitcoin (BTC), while Bitwise published a promotional video featuring Jonathan Goldsmith, the “most interesting man in the world.”
However, the opportunity to run advertising campaigns on major social networks without the risk of being shadowbanned or having your account terminated is one of the most inspiring developments for BTC ETF marketing.
While Google Search and Alphabet’s YouTube have already started greenlighting Bitcoin ETF ads, Instagram and Facebook could join the club soon, Coffee adds.
Grayscale’s GBTC Dethroned by BlackRock: First ‘Shift’ to BTC ETFs
According to a spokesperson cited by the WSJ reporter, parent company Meta Platforms is currently updating its US policies to make Bitcoin ETF promotion campaigns compliant.
As Guru-Investingpreviously reported, Bitcoin ETF ads appeared on Google Search last week. This development is part of the lifting of Google’s ban on crypto advertising.
Meanwhile, the emerging Bitcoin ETF segment saw its first “revolution” on February 2, 2024. Grayscale’s GBTC, which is the best-known BTC-based investment product and successor to the OTC traded trust of the same name, saw your quote. volume eclipsed by BlackRock’s IBIT.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded an impressive volume of $219.3 million, which is higher than Grayscale, Bitwise, and Invesco products combined.
