Proceeds from the NFT mints are being paid to Protocol Guild, a collective funding mechanism created by Ethereum core contributors and the ad’s two actors.

Bitwise, a digital asset manager, has released its first spot Ether exchange-traded fund (ETF) commercial, allowing enthusiasts to mint the 39-second clip as a non-fungible token (NFT) on Ethereum. The commercial, themed on Ethereum's 24/7 operation compared to traditional finance, features a dialogue between a casually dressed man representing Ethereum and an older man symbolizing "Big Finance" getting ready for bed after trading hours.

Bitwise described the ad as a "piece of history," and 1,198 mints of the clip have been made so far, with proceeds split between Protocol Guild, the actors Jamie Kaler and Michael Tacconi. The NFT mint has earned them a combined $1,865 or 0.53 Ether.

The commercial release follows Bitwise and other firms receiving approval for spot Ether ETFs, with Bitwise amending its S-1 registration statement to potentially invest $100 million in the Bitwise Ethereum ETF upon trading launch. The ETFs may launch as early as July 2, according to Bloomberg ETF analyst Eric Balchunas. VanEck also released its spot Ether ETF ad shortly after SEC approval of 19b-4 filings.