Lack Of Feasibility Results In Crypto Ads Skipping The Super Bowl

Once again, cryptocurrency companies opted out of advertising during the Super Bowl, despite the recent upswing in the U.S. market. Just two years ago, the Super Bowl served as a prime platform for crypto companies, particularly exchanges like the now defunct FTX, to widen their appeal to a broader audience.

Last year, crypto was noticeably absent when it came to the annual global event due to the ongoing bear market. However, this year, the absence seems more driven by companies realizing that it may not be economically feasible.

Not Worth The RIsk

Various reports indicate that although the financial standing of cryptocurrency firms has improved, investing significant advertising budgets in such a grand stage is no longer deemed practical or effective. This also comes at a time when BTC recently crossed the $50K mark for the first time in years.

Many in the industry now prefer directing their marketing funds to areas they believe will offer better returns on investment. In fact, the sole notable nod to crypto during the 2024 Super Bowl was former Twitter CEO Jack Dorsey sporting a Satoshi t-shirt.

No BTC ETF Ads

Interestingly, even Coinbase, which had been a prominent advertiser in previous Super Bowl events, opted out of advertising this year. Instead, the company has shifted its focus and financial resources towards political engagement, aiming to influence digital asset legislation through lobbying efforts and supporting lawmakers friendly to crypto in anticipation of the 2024 election cycle.

Perhaps most surprising was the absence of Bitcoin ETF ads during the event, despite issuers like BlackRock, BitWise, and Grayscale being notably aggressive with their marketing efforts on social media following ETF approval a month ago. BlackRock has aired several TV commercials in the U.S. since the launch, and Grayscale initiated a large billboard campaign across airports and New York subways. However, their absence this year suggests firms are exercising extreme caution in allocating funds.