VanEck Launches Media Campaign to Invest in Web 3.0 Technology and Bitcoin

VanEck Launches Pro-Crypto Ad Spot

Asset manager VanEck, which has a pending application for a spot Bitcoin (BTC) exchange-traded fund with the United States Securities and Exchange Commission, has recently released a pro-crypto advertisement. The “Born to Bitcoin” video, which did not explicitly endorse a BTC exchange-traded product, came out two weeks after the asset manager said it would “rather buy and hold” BTC as the advertisement cost was “high.”

Many other asset managers with pending spot BTC or Ether (ETH) exchange-traded product applications with the SEC have also released similar ad spots. For example, Bitwise hired actor Jonathan Goldsmith to revive his “Most Interesting Man in the World” character to promote Bitcoin in a December media campaign. Moreover, Hashdex launched an ad spot suggesting use cases for innovative web 3.0 technology like crypto.

Despite the fact that VanEck had more than $76 billion in assets under management as of September, many online criticized the firm for the seemingly cheap quality of the ad spot. The campaign featured a copy of the “Buy Bitcoin” sign a fan held behind Janet Yellen in 2017 but was largely a silhouetted figure walking in front of a city skyline.

At the time of writing, the SEC has not authorized any spot BTC or ETH exchange-traded fund to be listed on any US exchange. Nevertheless, in 2021 the commission began allowing investments linked to crypto futures. Some specialists have suggested that the SEC may approve multiple spot crypto ETFs beginning in January 2024.

The advent of Web 3.0 technology has been a major driver of investment in the space, with many people looking to buy stocks and domains related to the technology, as well as taking online courses to further their understanding. Additionally, Web 3.0 has also seen the emergence of new social media platforms, apps and applications.