Digital asset manager Bitwise has launched its first Ether exchange-traded fund (ETF) commercial, allowing non-fungible token (NFT) enthusiasts to mint the 39-second clip on Ethereum. The ad, themed around Ethereum’s 24/7 operation compared to traditional finance’s limited hours, aims to capture a piece of crypto history.
Commercial Theme and Concept
Bitwise’s ad draws inspiration from Apple’s early 2000s Mac vs. PC commercials. It features a conversation between a casually dressed young man, representing Ethereum, and an older man in business attire with a nightgown, symbolizing “Big Finance.” As “Big Finance” hops into bed at the close of trading hours, he boasts, “You’d want a little shut-eye too if you’ve been moving billions around the world.” The Ethereum man responds, “Well, actually, I do. Stablecoins, NFTs, loans, people can access me 24/7, but look, everyone’s different. You should get some rest,” as he tucks “Big Finance” into bed.
NFT Minting and Proceeds
Bitwise claims this ad as “the 1st national TV spot minted as an NFT,” allowing users to mint the ad on Ethereum. As of now, 1,198 mints have been made by 530 unique minters, according to the Zora Network, an Ethereum layer-2 solution focused on artists and brands.
Proceeds from the NFT mints are split equally, with 50% going to the Protocol Guild—a collective funding mechanism created by Ethereum core contributors—and the remaining 50% shared between the ad’s two actors, Jamie Kaler and Michael Tacconi. To date, the Protocol Guild, Kaler, and Tacconi have earned a combined $1,865 or 0.53 Ether from the NFT mint.
Also Read: Halving Impact: Bitfarms’ Crypto Mining Revenue Drops 42%
Recent Developments and Future Plans
Last month, Bitwise, along with seven other firms, had their 19b-4 applications approved by the United States Securities and Exchange Commission (SEC) to list spot Ether ETFs. Bitwise amended its S-1 registration statement on June 18 to include a potential $100 million investment into the Bitwise Ethereum ETF upon its trading launch. S-1s are the last filings that must be approved by the SEC before the Ether products can launch, potentially as early as July 2, according to Bloomberg ETF analyst Eric Balchunas.
VanEck also released its own spot Ether ETF ad within an hour of the SEC approving the 19b-4 filings, showcasing the competitive landscape in the crypto ETF market.
