Cryptocurrencies

Digital asset management company Bitwise released the first real-time ad for its Ethereum fund

Digital asset manager Bitwise released the first spot ad for its Ethereum (ETH) exchange-traded fund on Thursday, allowing non-fungible token (NFT) enthusiasts to create a 39-second clip on Ethereum.

“Capture a piece of cryptocurrency history: the first national TV commercial designed as an NFT,” Bitwise claimed in a June 20 article.

Bitwise ran the ad on Ethereum, 24/7 while “big finance sleeps,” apparently inspired by an Apple ad comparing Mac computers to PCs in the early 2000s.

The Bitwise ad consists of a dialogue between a younger man dressed in casual clothes representing Ethereum and an older man wearing a nightgown and work clothes underneath (representing “Big Money”) jumping into bed at the end of the trading hours.

“You might also need a little sleep if you’re moving billions around the world,” big financial firms declare proudly.

“Well, actually, I do.” The Ethereum Man responds. “Stablecoins, non-fungible tokens, loans, people can reach me 24/7 (…), but listen, everyone is different. You should take a break,” he says, hypnotizing “big finance.”

Bitwise described the announcement as a “piece of history.”

According to the Zora Network, an Ethereum layer two solution focused on artists and brands, 1,198 copies of the 39-second clip have been created so far out of 530 unique copies.

According to Bitwise, 50% of NFT profits will be donated to the Protocol Guild, a crowdfunding mechanism created by major Ethereum contributors.

The remaining 50% will be donated to advertisers Jamie Kaler and Michael Tacconi.

Protocol Guild, Kaler and Tacconi have received a total of $1,865, or 0.53 ether, from the NFT token so far.

about: Spot Ethereum ETF ‘fee war’ begins as Franklin Templeton reveals fees

Last month, Bitwise and seven other companies received their 19b-4 application to list Ethereum ETFs approved by the United States Securities and Exchange Commission on May 23.

Bitwise amended its S-1 registration statement on June 18 to include a potential $100 million investment in the Bitwise Ethereum ETF at commercial launch.

S-1s are the final filing that must be approved by the Securities and Exchange Commission (SEC) before Ether products can be launched.

It could be launched as early as July 2, according to Eric Balchunas, analyst at Bloomberg ETF.

VanEck recently released its Instant Ether ETF, which it unveiled less than an hour after the SEC approved its 19b-4 filings.

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