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Crypto News

Google to Allow Bitcoin ETF Ads, Fueling Speculation in Crypto Community

Author

Jay Solano

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Tags Editor's Choice / Slider Posts

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2 mins
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Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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Google’s Policy Update Opens Doors for Bitcoin ETF Advertising

Starting Monday, January 29, Google is set to implement a significant policy change that will allow the advertising of certain cryptocurrency products, including Bitcoin exchange-traded funds (ETFs), on its platforms. This update is generating considerable buzz within the crypto community, especially following the recent approval of 11 spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) on January 10. The revised policy will enable advertisements from entities offering Cryptocurrency Coin Trusts targeting the United States, aligning with Google’s criteria of financial products that enable investors to trade shares in trusts with substantial digital currency holdings.

Potential Impact on Bitcoin ETFs and Crypto Market

The crypto industry is optimistic about the possible influx of investment into Bitcoin ETFs, given Google’s vast reach and processing capacity of over 100,000 searches per second. The Grayscale Bitcoin Trust (GBTC), one of the largest Bitcoin trusts, recently converted into a spot Bitcoin ETF, fitting the profile of products that Google’s updated policy would allow advertising. Previously, GBTC shares were only accessible to accredited investors, subject to a six-month holding period, to safeguard less knowledgeable investors from risky investments. However, spot Bitcoin ETFs are open to the general public in the United States and regulated under the Securities Act of 1933, making them a more secure option for advertising on platforms like Google.

Anticipating the Influence of Google Ads on Bitcoin Products

The crypto community, including prominent figures like cryptocurrency trader Michael van de Poppe, has long anticipated the impact of Google ads on Bitcoin-related products. Van de Poppe’s optimism dates back to August 2021, ahead of the SEC’s approval of Bitcoin Futures ETFs in October 2021. The community speculates that including Bitcoin ETF ads on Google could significantly influence the crypto market, attracting more mainstream attention and potentially boosting investment in these funds. The decision by Google to revise its advertising policy reflects a growing acceptance and mainstreaming of cryptocurrency products, which could have far-reaching implications for the digital asset industry.