According to Blockworks, Hashdex has released a new bitcoin advertisement, aiming to attract investor attention ahead of the US Securities and Exchange Commission’s (SEC) decision on spot bitcoin ETFs. This comes nearly two weeks after Bitwise released a commercial featuring actor Jonathan Goldsmith. The Brazil-based asset manager is among over a dozen fund issuers with filings pending before the regulator. The SEC is expected to rule on proposals by Ark Invest and 21Shares, as well as others, by January 10.
The new ad, posted on Hashdex’s X account, highlights how people's perceptions of certain technologies, such as personal computers, have changed over time. It concludes with the message: "Understanding disruptive innovation takes time. Bitcoin's time has arrived." Optimism surrounding bitcoin ETF approval has increased in recent months, following BlackRock's entry into the race in June and Grayscale Investments' court victory against the SEC in August. Bloomberg Intelligence analysts maintain a 90% chance of the regulator approving such funds next month.
Hashdex announced in August its intention to convert its Bitcoin Futures ETF (DEFI) into a fund that directly holds bitcoin. This is not the company's first bitcoin ad, as it released another spot on X on December 20. Industry observers predict a marketing war around spot bitcoin ETFs, given the number of firms looking to launch similar products. In addition to BlackRock and Hashdex, traditional finance giants such as Invesco, Fidelity, and Franklin Templeton are set to compete against smaller, more crypto-centric firms like Bitwise, VanEck, and Valkyrie.
