As Google gears up to update its advertising policies on Monday, January 29, allowing certain cryptocurrency products to be promoted on major search engines, the crypto community is abuzz with speculation about the potential ramifications, particularly for spot Bitcoin exchange-traded funds (ETFs).
The anticipated revision of Google’s crypto-related ads policy, announced in December 2023, is set to permit ads from advertisers offering “Cryptocurrency Coin Trust targeting the United States.” Given this development, it’s widely believed that Bitcoin ETFs, including spot ETFs, could meet the updated criteria, igniting discussions within the crypto industry.
The recent approval by the United States Securities and Exchange Commission (SEC) of 11 spot Bitcoin ETFs on January 10 has further fueled optimism among crypto analysts. These ETFs enable investors to purchase shares in trusts holding significant pools of digital currency, aligning with Google’s updated requirements.
With Google processing a staggering 8.55 billion searches daily, analysts foresee a potential surge in inflows to Bitcoin ETFs as a result of increased visibility through Google ads. However, Google’s terminology regarding the allowed products, referring to them as “cryptocurrency coin trusts,” leaves some ambiguity.
Notably, the Grayscale Bitcoin Trust (GBTC), one of the largest Bitcoin trusts, recently transitioned to a spot Bitcoin ETF following the SEC’s approval. Previously, purchasing GBTC shares on the primary market was restricted to accredited investors subject to a six-month holding period. Spot Bitcoin ETFs, on the other hand, are accessible to the general public in the United States, regulated under the Securities Act of 1933.
This shift towards greater accessibility and regulatory oversight positions spot Bitcoin ETFs as a potentially safer investment option, likely contributing to Google’s consideration for advertising purposes.
Renowned cryptocurrency trader Michael van de Poppe expressed optimism about the impact of Google ads on Bitcoin-related products, particularly in light of the SEC’s exploration of Bitcoin Futures ETFs, which were approved in October 2021.
As Monday approaches, the crypto community eagerly awaits further developments and potential opportunities stemming from Google’s updated advertising policies.
