BlackRock et al.’s Bitcoin spot ETF will be advertised on Google = FT

ETF advertising

It has been revealed that companies such as BlackRock and Grayscale are advertising physical ETFs (exchange traded funds) for the crypto asset (virtual currency) Bitcoin (BTC) on the search engine giant Google. The Financial Times (FT) reported on the 5th.

Google updated its virtual currency advertising rules on the 29th of last month, allowing companies that provide virtual currency investment trust services in the United States to advertise their products and services if approved by Google. In addition to the two companies mentioned above, Fidelity, Bitwise, and Invesco also advertise ETFs on Google.

connection: Google to allow ads for Bitcoin investment trusts/ETFs

Until now, the U.S. Securities and Exchange Commission (SEC) has not approved all virtual currency physical ETFs for reasons such as investor protection. However, last month, all submitted Bitcoin spot ETFs were approved at the same time. In order to ensure fairness, both companies were approved at the same time, leading to increased competition among the companies.

For example, this advertisement is what is displayed in the list of search results when you search for “bitcoin ETF.” It appears that the FT has indeed seen advertisements from the companies mentioned above.

An Invesco representative told the FT: “We believe that advertising on Google, among other search engines, is an important part of our broader marketing strategy.”

The FT also reported that BlackRock plans to place advertisements for Bitcoin ETFs on buildings in several major U.S. cities.

Furthermore, Bitwise released videos about Bitcoin and ETFs even before the Bitcoin spot ETF was approved. At that time, there was widespread speculation that this was an advertisement created in case a Bitcoin spot ETF was approved.

connection: Is the race to promote Bitcoin spot ETFs starting in the US? Bitwise releases video advertisement

fee competition

According to data from CoinGlass, as of this writing, the U.S. Bitcoin spot ETF has assets under management (AUM) of over $27 billion (approximately 4 trillion yen). The trading volume has calmed down compared to immediately after trading began.

Companies are competing with each other by placing advertisements, but one of the things that investors are very interested in is the fees charged by each company. Most companies set fees between 0.2% and 0.9%, but only Grayscale maintains the fee at 1.5%.

GBTC, a grayscale Bitcoin ETF, has been on the market since before physical ETFs were approved. As a result, there is a view that investors who bought at a discount (negative deviation) are taking profits, but there are many others who say that high fees are leading to capital outflows.

Furthermore, the outflow of funds from GBTC is currently calming down.

connection：Bitcoin ETF, the impact of capital outflows from GBTC on the market – Bitfinex Alpha

Bitcoin ETF special feature

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