Grayscale to launch a massive advertising campaign
Grayscale is launching a major advertising campaign in an effort to increase its chances of converting GBTC into an exchange-traded fund
According to a report published Tuesday by Business Insider, Shades of greya subsidiary of Digital Currency Group, will launch a major advertising campaign on Amtrak, the leading provider of intercity passenger rail services in the United States. It will cover the train journey 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 public relations agency Vested.
The publicity blitz is aimed at politicians and businessmen. It’s unclear how much Grayscale paid for such a large ad campaign.
The news comes as Grayscale is fighting tooth and nail to convert its flagship product Grayscale Bitcoin Trust (GBTC) into a cash exchange-traded fund.
Sonnenshein did not say whether or not his company wanted to specifically target employees of the United States Securities and Exchange Commission with its new advertisements.
He says, however, that it’s “important” to get DC talking about crypto now that several government agencies are paying attention.
In late March, Grayscale hinted that it would sue the SEC if the regulator rejects its high-stakes ETF conversion proposal.
Grayscale is no stranger to ambitious advertising campaigns. His “Drop Gold” ad was a big hit, helping fuel the narrative that Bitcoin could replace the shiny metal.