Larry Fink’s BlackRock appears to have used a PR agency to tap TikTok influencers for a launch event in New York City to promote a new exchange-traded fund focused on the top 20 US stocks.
According to TikTok influencer Piper Cassidy Phillips, she and other influencers were invited “to an influencer event with BlackRock” earlier this week. They were invited to a wine bar in the West Village.
Phillips said this was the first time she had seen a financial institution inviting influencers to an event to promote an ETF product. She added that Fink’s BlackRock worked with “a huge PR agency” to put on the event.
Phillips discussed the iShares Top 20 US Stocks ETF (TOPT) in the video, which is focused on the 20 largest US stocks by market capitalization.
I cannot believe BlackRock invited a bunch of influencers to their ETF a launch party like it’s a tequila brand. Truly incredible stuff pic.twitter.com/tpwVftMKTf
— SPANE (Sperrys and Nike Elites) (@SperrysandNikes) October 31, 2024
Many of Phillips’ followers on the Chinese social media platform were upset that BlackRock used influencers to promote financial products to retail investors.
“FINRA is gonna have a field day with this one,” one TikToker wrote.
X users respond…
Here’s where we are in the cycle.
“Selling your soul to BlackRock for a couple bucks,” another TikTok said.
Tyler Durden
Fri, 11/01/2024 – 20:30
