The Super Bowl, one of the prominent marketing platforms in the US, will not feature any crypto advertisements for the second consecutive year. Many popular players in the crypto industry, such as Coinbase, Kraken, and Bitcoin spot ETF providers, have opted out of this advertising opportunity, citing a range of reasons for their decision.
One of the primary factors contributing to the lack of cryptocurrency advertisements is the specific timing of the SEC’s approval of spot Bitcoin ETFs in January 2024. Unfortunately, this approval came after the opportunity to secure Super Bowl ad slots, which were already sold out in November 2023.
As a result, even prominent ETFs like BlackRock’s IBIT and Fidelity’s FBTC missed out on the chance to showcase their offerings during this highly anticipated event.
Also Read: Bitcoin (BTC) Price Rally Pauses at $50,000 as Investors Anticipate US CPI Data
Earlier in 2022, the most well-known crypto exchange FTX, gained significant attention through its prominent Super Bowl ad in 2022, featuring Larry David as a crypto skeptic.
Crypto Ads: A Comparison of 2022 and 2024
The absence of crypto advertisements in 2024 stands out in stark contrast to the prevalent crypto-heavy advertising seen in 2022. During that time, the crypto industry experienced a significant boom, capturing mainstream attention.
Notably, Coinbase, the largest US crypto exchange, made headlines with a reported $14 million investment in a 60-second ad featuring a dynamic QR code. Additionally, other prominent crypto companies like Gemini, eToro, and BlockFi also joined the Super Bowl ad lineup in 2022.
In 2023, the crypto market witnessed a significant downturn. Bitcoin, which had reached its peak in December 2021, experienced a drastic decline of over 50% in value.
This decline was influenced by various factors including regulatory uncertainty, growing environmental concerns, and increased competition from Web3 platforms. As a result, the growth and public perception of the crypto industry were greatly affected.
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
