Cryptocurrency-based investment firm Hashdex has released a new commercial for its proposed Spot Bitcoin ETF. The firm is one of the leading firms of its kind pushing forward crypto innovation and the approval of Bitcoin ETFs in the US.
The commercial features a construction dump truck driving into a barren dirt land. Text pops up in the middle of the screen, saying “Stocks aren’t crypto.” It also points out that fixed income and precious metals aren’t crypto either.
The advertisement appeals directly to Bitcoin investors. Hashdex is one of many asset management firms looking to secure a Spot Bitcoin ETF to make banking with crypto easier for its clients. The SEC has long pushed back its decision on Bitcoin ETF approval in the US, citing multiple concerns. However, US courts have put pressure on the regulator to make a decision, raising the hype around the entire crypto market, specifically Bitcoin.
Also Read: SEC & Grayscale Hold Another Meeting to Talk Spot Bitcoin ETF
A Spot Bitcoin ETF would allow Hashdex to convert its existing Bitcoin Futures ETF into a spot ETF, tracking the active price of Bitcoin itself. Many experts and firms are optimistic that approval for the first ETF will come in Q4 of 2024, when likely many will follow suit. The SEC has already held meetings with multiple firms to discuss Spot Bitcoin ETFs, including Grayscale and BlackRock. Other firms have also already begun advertising their Bitcoin ETFs, to attract crypto investors.