Hashdex drops new ad spot ahead of potential spot Bitcoin ETF approval

    2023.12.29 | exchangesranking | 83onlookers

    Asset management firm Hashdex has released another advertisement as the Securities and Exchange Commission considers whether it will approve or deny applications for listing spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States.

    In a Dec. 28 post on X (formerly Twitter), Hashdex released an ad spot showing an interview in which the subject criticized using home computers to do everyday tasks. The interview, purportedly taking place in the 1980s amid the rise in the adoption of the personal computer, showed a man dismissing the usefulness of the technology.

    “Understanding disruptive innovation takes time,” said the ad spot. “Bitcoin’s time has arrived.”

    In addition to Hashdex, asset managers with pending BTC exchange-traded product applications in the SEC have released similar ad spots — presumably to whet the public’s appetite ahead of potential approvals. Bitwise unveiled its own media campaign in December, onboarding actor Jonathan Goldsmith to revive his “Most Interesting Man in the World” character to promote Bitcoin.

    Related: 5 reasons why a spot Bitcoin ETF approval could send BTC price above $100K

    The SEC has never approved a spot BTC or Ether (ETH) exchange-traded fund for listing on any U.S. exchange to date but gave the green light for investment vehicles tied to crypto futures. Some experts have speculated officials at the commission could approve multiple spot crypto ETFs in January.

    “This is a great ad,” said Bloomberg ETF analyst Eric Balchunas in response to Hashdex’s spot. “Every Boomer remembers feeling exactly this way about computers/internet.”

    In November and December, SEC officials met with representatives of asset managers filing to list a spot Bitcoin ETF, including Grayscale, BlackRock, Fidelity and Franklin Templeton. The commission has not suggested it will approve any spot crypto exchange-traded product but did set a Dec. 29 deadline for multiple firms to amend existing applications ahead of any potential approval.

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