Bitwise Bold Bitcoin ETF Promo Precedes SEC Verdict

Jonathan Goldsmith, a famous actor for portraying “The Most Interesting Man in the World” in Dos Equis beer commercials, is lending his charisma to Bitwise Asset Management’s push for a Bitcoin exchange-traded fund (ETF). Bitwise’s recent promotional efforts, featuring Goldsmith align with the asset manager’s pending Bitcoin ETF application with the United States Securities and Exchange Commission (SEC).

Furthermore, the crypto community anticipates the launch of a spot Bitcoin ETF, and with the SEC approval likely in early January 2024, Bitwise has strategically enlisted Goldsmith for a new advertising campaign. In a post on December 18, Bitwise shared an ad where Goldsmith, in his iconic setting – a sophisticated bar, steps back into his familiar role. However, Goldsmith delivers a crypto-centric message instead of the classic Dos Equis sign-off, stating, “You know what’s interesting these days? Bitcoin. Look for Bitwise, my friends.”

A word to the wise, from a man of few words. #bitcoinisinteresting https://t.co/wantGiAIqJ pic.twitter.com/x5MPbElEev

— Bitwise (@BitwiseInvest) December 18, 2023

Moreover, at 85 years old, Goldsmith briefly revived his “Most Interesting Man” persona, which gained fame from 2006 to 2018. His recent endorsement coincides with Bitwise’s efforts to secure SEC approval for their Bitcoin ETF, marking a unique fusion of celebrity endorsement and the cryptocurrency space.

SEC Delays Bitcoin ETFs

The SEC has not approved any spot Bitcoin or Ether exchange-traded product for listing and trading on a US exchange. Bitwise’s spot BTC ETF faced an August delay, leading to a September application amendment. Moreover, ARK Invest and 21Shares submitted an S-1 amendment to the SEC for their spot Bitcoin ETF. Adopting the SEC’s “cash create” redemption mechanism is a key feature in these filings, signaling an industry-wide trend.

Furthermore, BlackRock and WisdomTree have updated their Bitcoin ETF applications, opting for cash creations in their S-1 amendments. This move is viewed positively, signaling progress in the evolving landscape of cryptocurrency exchange-traded products. It indicates a step forward in the industry’s development.

Moreover, the broader cryptocurrency market is marked by notable volatility. Bitcoin’s price surged by 5.5% in the last 24 hours, surpassing $43,000 and adding over $50 billion to its market capitalization. Investors await the SEC’s approval, poised to shape the future of US Bitcoin ETFs.

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