Cryptocurrencies have become particularly popular among young people in recent years. They are new, difficult to understand and incredibly volatile. But the industry has now grown rapidly and has therefore become interesting to a wider audience. At least this is the conclusion reached by the stock market publisher VanEck, whose advertising is aimed primarily at older investors.
VanEck promotes Bitcoin spot ETF
The ad runs on social media platform X and tells the story of a mother who wants to invest in crypto just like her child. “Nowadays it’s easy, there are now ETFs. “Look for the stock symbol HODL in your broker’s app,” explains their son or daughter via a chat app. VanEck emphasizes that it is now possible to invest in Bitcoin (BTC) at low trading costs via the HODL ETF.
The VanEck Bitcoin Trust is one of the spot ETFs approved by the US Securities and Exchange Commission (SEC) in early January. Since then, the Exchange Traded Fund on the Chicago Board Options Exchange (Cboe) has been one of the catchy funds ticker HODL.
HOLD Bitcoin in a low-cost ETF with HODL.
– VanEck (@vaneck_us) January 10, 2024
It is not surprising that a traditional financial company would run advertisements related to cryptocurrencies. The special thing is that slightly older investors, such as the parents of crypto investors, are also among the target customers.
Lots of competition between new Bitcoin ETFs
The asset manager does not reveal exactly how old the mother in the ad is. In any case, the Wall Street Journal is betting on the age of the baby boomers. The business newspaper spoke to Bloomberg analyst Eric Balchunas about the eye-catching ad, who explained that the new target audience isn’t that strange.
To grow, the market needs to focus on investors who are older, have more money and want to take less risk. There is untapped potential here. “They put so much pressure on marketing because that’s where you can differentiate yourself.” said Balchunas.
At the time of writing, 11 different spot ETFs have been approved, and applications are still pending for several more of these exchange funds. Some of these funds have already decided to reduce the trading fees they charge. This is one of the few other aspects that differentiate it from the other funds.