Grayscale launches major advertising campaign to increase chances of converting GBTC into exchange-traded fund
According to a Tuesday report from Business Insider, Grayscale, a subsidiary of Digital Currency Group, will run a major ad campaign on Amtrak, the leading provider of intercity rail services in the US. It will be the train ride from Penn Station (New York) to Union Station (Washington DC).
The campaign, which will run for three months, was organized in partnership with London-based creative consultancy Remarkably and New York-based financial marketing and PR firm Vested.
The advertising blitz is aimed at politicians and entrepreneurs. It’s not clear how much Grayscale paid for such a large ad campaign.
The news comes as Grayscale fights tooth and nail to convert its flagship Grayscale Bitcoin Trust (GBTC) into a mock-based exchange-traded fund.
Sonnenshein did not clarify whether his company intended to target employees of the U.S. Securities and Exchange Commission with its new ads.
However, he says it’s “important” to get DC talking about crypto now that multiple government agencies are paying attention to it.
In late March, Grayscale hinted that it would take the SEC to court if the regulator rejected its proposal to convert high-stakes ETFs.
Grayscale is no stranger to ambitious ad campaigns. The “Drop Gold” commercial was a huge success and helped fuel the story that Bitcoin could replace the shiny metal.