Hashdex just launched its spot Bitcoin (BTC) exchange traded fund (ETF) advertisement. Meanwhile, Bitwise doubled down on its previous commercial by releasing another version of it.
Hashdex Releases Spot Bitcoin ETF Ad
Optimism for the coming approval of spot Bitcoin ETF applications in the US is heating up as Hashdex just joined the fray with its advert. This follows the promo of Bitwise, which shows strong confidence on their part that the US Securities and Exchange Commission (SEC) will favor their filings.
Hashdex’s 20-second ad features a mining truck in the desert with the prompts:
- “Stocks aren’t crypto.”
- “Fixed income isn’t crypto.”
- “Precious metals? Nope. not crypto either.”
- “Your bitcoin investment deserves a crypto-focused firm.”
It ends with the logo of Hashdex and a call to action to visit Hashdex-etfs.com.
So, following the breadcrumbs to learn more reveals that the Hashdex Bitcoin Futures ETF (referred to as the “Fund”) is sponsored by Teucrium Trading, LLC. Teucrium was established in 2010 focusing on providing investments in alternative markets through ETF instruments.
Hashdex reminds us that the Fund only provides price exposure to Bitcoin via futures contracts and it does not invest in the cryptocurrency directly. In other words, it only allows investors to earn through correctly tracking Bitcoin price movements.
Bitwise Lays Down Part Two Of Spot Bitcoin ETF Commercial
The second spot Bitcoin ETF commercial of Bitwise has the same format, featuring Jonathan Goldsmith, a.k.a. “Most Interesting Man in the World” again. However, the monologue is changed to “Thought you would like to know… Satoshi sends his regards.”
After that, Goldsmith says, “Look for Bitwise, my friends.” The last frame also contains a fine print warning investors of the risks of investing in crypto assets to comply with regulatory standards.
How is Bitcoin Holding Up?
The developments in the spot Bitcoin ETF niche were enough to build hype for BTC, which pumped up above the $44,000 line on Thursday. As of this writing at 7:00 PM UTC on December 21, Bitcoin stepped back by 1.59% to $43,500 from its daily high.
Trading volume has also gone down by 8.41% as only $24.184 billion worth of BTC moved in crypto exchanges. Zooming out on the weekly and monthly charts indicates gains of 1.5% and 18%, respectively, for the digital asset.
The current prices are still 36% behind Bitcoin’s all-time high of $68,789 on November 10, 2021. However, the crypto community is positive that BTC may be able to break the barrier by next year as the spot Bitcoin ETFs are finally given a green light by the SEC, and the halving drives more demand for the finite cryptocurrency.