Google has revised its cryptocurrency advertising policy, permitting ads for U.S.-based crypto trusts starting January. Notably, this update aligns with predictions for the approval of spot Bitcoin exchange-traded funds in the same month.
In a policy change log, Google announced a modification to its crypto ad policy. Starting January 29, 2024, the update will permit ads specifically from “advertisers offering Cryptocurrency Coin Trust” with a focus on targeting the United States.
The revised policy, which was announced in the update, specifically highlights cryptocurrency coin trusts. These financial products enable investors to trade shares in trusts that hold substantial amounts of digital currency. This likely encompasses Exchange-Traded Funds (ETFs) within the scope of the policy.
Google Ad Policy Shift for Crypto Trusts Amid U.S. Bitcoin ETF Anticipation
Google emphasized global applicability in its recent announcement, reminding advertisers to adhere to local laws in the areas their ads target. For those looking to promote crypto trusts, obtaining Google certification is now a requirement.
This certification demonstrates possession of a relevant license from the local authority, ensuring compliance with all legal requirements in the target country or region.
This policy adjustment coincides with Bloomberg’s ETF analysts assigning a 90% likelihood of U.S. spot Bitcoin ETF approval by January 10, 2024.
Multiple pending applications could potentially receive approval simultaneously, as 13 Bitcoin ETF applicants await decisions.
ETF Talks Drive Crypto Surge
Limited public information exists on the approval processes. However, major fund managers, including BlackRock, Grayscale, and Fidelity, have reportedly engaged with the U.S. Securities and Exchange Commission. They are discussing essential technical details related to their ETF bids.
Amidst anticipation of approvals, the cryptocurrency market has seen a significant surge, with Bitcoin registering a nearly 74% increase in the past 90 days.
Analysts speculate on the potential for a new all-time high for Bitcoin in 2024. As the crypto landscape evolves, Google’s adjusted advertising policy reflects a response to the changing regulatory environment surrounding digital assets.