Google, the tech giant, is set to update its advertising policy related to cryptocurrencies, allowing advertisements for cryptocurrency trusts targeting the United States starting from January 29, 2024.
This policy shift aligns with predictions that spot Bitcoin exchange-traded funds (ETFs) will gain approval in the United States in the same month.
In a policy change log dated December 6, Google clarified that it will permit advertisements from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
Cryptocurrency coin trusts refer to financial products that enable investors to trade shares in trusts holding significant amounts of digital currency, possibly including ETFs.
Google emphasized that all advertisers must adhere to local laws in the areas where their ads are targeted.
This updated policy will apply globally to all accounts advertising these cryptocurrency-related products. To advertise crypto trusts, potential advertisers must be Google-certified, which necessitates having the appropriate license from the relevant local authority.
Their products, landing pages, and ads must also comply with the legal requirements of the specific country or region they wish to target.
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It’s worth noting that Google already permits advertising for certain cryptocurrency and related products but excludes ads for crypto or nonfungible token (NFT)-based gambling platforms, initial coin offerings (ICOs), decentralized finance (DeFi) protocols, and services offering trading signals.
This policy adjustment is timely, as Bloomberg’s ETF analysts have assigned a 90% probability of a U.S. spot Bitcoin ETF receiving approval by January 10, 2024.
Multiple pending ETF applications could potentially be approved simultaneously. Currently, there are 13 Bitcoin ETF applicants, and detailed information about their approval processes remains limited.
Several prominent fund managers, such as BlackRock, Grayscale, and Fidelity, have reportedly engaged with the U.S. Securities and Exchange Commission to discuss critical technical aspects of their ETF proposals.
The cryptocurrency market anticipates these approvals with enthusiasm, as Bitcoin has surged by nearly 74% in the past 90 days. Analysts even predict the possibility of a new all-time high for Bitcoin in 2024.
This shift in Google’s advertising policy aligns with the evolving landscape of cryptocurrency investments and reflects the growing interest in digital assets among investors.
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