Bitcoin ETF ads may appear on Google starting Monday, community speculates
On Monday, Google is set to update its policies allowing certain cryptocurrency products to be advertised on the major search engine. Bitcoin exchange-traded funds (ETFs) appear likely to meet the criteria, sparking speculation within the crypto industry.
In December 2023, Cointelegraph reported that Google’s crypto and related ads policy will be revised on Jan. 29, to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
Reports are circulating that Google will be changing their policy and allowing #Bitcoin ETF ads starting on Jan 29th.
— The ₿itcoin Therapist (@TheBTCTherapist) January 25, 2024
Google processes 100K searches/sec
Bitcoin is going to have unprecedented levels of institutional and retail exposure.
Prepare accordingly
With the recent approval of 11 spot Bitcoin ETF applications by the United States Securities and Exchange Commission (SEC) on Jan. 10, investors purchasing shares in a spot Bitcoin ETF acquire a stake in the fund's Bitcoin holdings. This aligns with Google's updated requirements:
“Financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
Crypto analysts are optimistic about the potential inflows of Bitcoin ETFs, citing the high transaction processing capacity of Google in searches. According to recent data from DemandSage, Google processes 8.55 billion searches per day.
BIG NEWS
— Ash Crypto (@Ashcryptoreal) January 26, 2024
GOOGLE WILL ALLOW #BITCOIN
AND CRYPTO ETF ADS FROM 29TH
JANUARY 2024.
BULLISH
However, Google has kept the allowed products vague inthe advertisement of "cryptocurrency coin trusts."
Meanwhile, one of the largest Bitcoin trusts, Grayscale Bitcoin Trust (GBTC) recently converted to a Bitcoin ETF as part of the approved batch of spot Bitcoin ETF applications earlier this month.
Previously, buying GBTC shares on the primary market was only available to accredited investors and was subject to a six month holding period.
Related: Bitcoin price battle for $40K continues — Here’s what BTC bulls must do
Accredited investors must have a net worth of over $1 million, or more than $200,000 in earned income over the previous two years. These rules are in place to protect potential investors with limited knowledge from risky investments that may result in them losing their funds.
However, spot Bitcoin ETFs are available to the general public and are protected under the SEC’s Securities Act 1993, making them a potentially safer option for Google to consider in advertising.
In August 2021, well-known cryptocurrency trader Michael van de Poppe was optimistic about the influence Google ads would have on Bitcoin-related products, especially in light of the SEC chair exploring Bitcoin Futures ETFs, which were approved in October 2021.
SEC Chairman is open to a #Bitcoin ETF.
— Michaël van de Poppe (@CryptoMichNL) August 3, 2021
After Google opens up for ads for #Bitcoin , this is another bullish one.
A massive one.
Bullish.
Magazine: Bitcoin ETF guru Eric Balchunas has the last laugh at doubters: X Hall of Flame
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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