Back to main

Google to Allow Cryptocurrency Ads, Boosting Bitcoin ETF Speculation

On January 29th, Google is poised to enact a pivotal policy update that will permit certain cryptocurrency products to be promoted across major search engines.

Among these products, Bitcoin exchange-traded funds (ETFs) are emerging as potential contenders that meet the stipulated criteria, igniting considerable excitement within the cryptocurrency industry.

This significant development traces its origins back to December 2023 when Cointelegraph first reported on Google’s impending revision of its cryptocurrency and related ads policy.

Effective January 29, this revision will enable advertisements from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”

Coinciding with this policy shift is the recent approval of 11 spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) on January 10.

Investors who choose to acquire shares in these spot Bitcoin ETFs effectively secure a stake in the ETF’s Bitcoin holdings.

Importantly, this aligns perfectly with Google’s updated requirements, which specify a focus on “financial products that allow investors to trade shares in trusts holding large pools of digital currency.”

Crypto analysts are buzzing with optimism regarding the potential influx of investments into Bitcoin ETFs, buoyed by Google’s formidable transaction processing capacity in managing search requests.

Recent data from DemandSage underscores the sheer magnitude of Google’s daily search volume, which stands at an astonishing 8.55 billion searches.

Nevertheless, it’s worth noting that Google’s policy update employs the somewhat nebulous term “cryptocurrency coin trusts” when referring to the permitted products, leaving some room for interpretation.

READ MORE: Crypto Analyst Urges SEC to Rethink Licensing Requirements for Local Exchanges

Meanwhile, a noteworthy development in the cryptocurrency landscape involves the Grayscale Bitcoin Trust (GBTC), one of the largest Bitcoin trusts.

Recently, it transitioned into a spot Bitcoin ETF, following approval from the SEC on January 10.

Previously, GBTC shares were exclusively available to accredited investors and were subject to a mandatory six-month holding period.

Accredited investors, under U.S. regulatory standards, are individuals with a net worth exceeding $1 million or an annual income surpassing $200,000 for the past two years.

These requirements are designed to shield less knowledgeable investors from potentially risky ventures that could lead to financial losses.

In contrast, spot Bitcoin ETFs are accessible to the general public in the United States and are regulated under the Securities Act of 1933.

This regulatory framework adds an extra layer of security, potentially making them a safer avenue for Google to explore in its advertising efforts.

The anticipation surrounding Google’s policy update has been building since August 2021, when prominent cryptocurrency trader Michael van de Poppe expressed optimism about the potential influence of Google ads on Bitcoin-related products.

This optimism has been further fueled by the SEC’s exploration and subsequent approval of Bitcoin Futures ETFs in October 2021, signaling a growing acceptance of cryptocurrency-related investment products in the mainstream financial landscape.

Discover the Crypto Intelligence Blockchain Council

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Read on Crypto Intelligence Investment Disclaimer