- Bitwise Asset Management launches crypto ETF campaign with actor Jonathan Goldsmith, known as “The Most Interesting Man in the World.”
- The campaign promotes Bitwise’s Bitcoin ETFs and coincides with the company’s pending SEC application.
- The move reflects the crypto industry’s push for mainstream adoption amid ongoing regulatory hurdles for crypto ETF approval.
Bitwise Asset Management, a prominent cryptocurrency investment firm, has taken a bold step in promoting its Bitcoin exchange-traded product (ETF).
The campaign’s central message? “Bitwise Is Interesting.” It is likely the very first advertisement for a Bitcoin ETF.
Bitwise enlisted the services actor Jonathan Goldsmith, renowned for his portrayal of “The Most Interesting Man in the World” in Dos Equis beer commercials.
The choice of Goldsmith is a clever nod to his iconic role and aims to emphasize the captivating nature of Bitwise’s offerings in the cryptocurrency space.
The campaign is set for a launch across multiple platforms, including television, social media, and digital channels. The campaign’s reach extends to major business news networks such as CNBC, Bloomberg, and Fox Business Network, ensuring that the message reverberates throughout the financial world.
Bitwise’s Pending Bitcoin ETF Application
Bitwise’s decision to feature Goldsmith in their campaign coincides with the asset manager’s pending Bitcoin ETF application with the U.S. Securities and Exchange Commission (SEC). The SEC has never approved a spot Bitcoin or Ethereum exchange-traded product for listing and trading on a U.S. exchange. While the commission delayed a decision on Bitwise’s spot Bitcoin ETF application in August, the asset manager amended its application in September.
The SEC’s decision on these ETFs is highly anticipated, with expectations of an announcement by January 10, 2024.
Despite a decade of rejections for Bitcoin ETF applications by the SEC, this time, the enthusiasm has reached new heights. Wall Street giants like BlackRock, Invesco, and Fidelity have shown a keen interest in the cryptocurrency market. Their participation adds weight to the belief that the SEC’s approval could mark the birth of a potential $100 billion spot-Bitcoin ETF market.
Celebrities and Crypto Endorsements
Large crypto firms have often turned to well-known figures like Goldsmith to promote their products and services.
Soccer legend David Beckham became the global ambassador for blockchain company DigitalBits and launched his own range of NFTs.
DJ Steve Aoki became a brand ambassador for DraftKings’ NFT market, venturing into the NFT world. Actor Matt Damon participated in a $100 million promotional campaign for Crypto.com.
Although many of these campaigns have been successful, they sometimes lead to legal issues, as seen with soccer star Cristiano Ronaldo’s promotion of Binance and Tom Brady’s appearance in ads for FTX.
American comedian Larry David appeared in a Super Bowl commercial for now-defunct crypto exchange FTX. He also got into trouble for the same.
American rapper Snoop Dogg and other musicians and celebrities have been also named in a class-action lawsuit.