Google Revamps Ad Rules For ‘Crypto Trusts’ Amid Optimism Surrounding Bitcoin Spot ETF – Alphabet (NASDAQ:GOOG)
Google Revises Ad Policies for Crypto Trusts Ahead of Potential Bitcoin ETF Approval
Alphabet Inc’s search engine giant, Google, has made changes to its ad policies regarding “crypto trusts” in anticipation of the potential approval of Bitcoin spot ETF applications by the Securities and Exchange Commission (SEC).
According to a report by FXStreet, Google’s revised ad policy, effective from December 6, now allows advertisers who offer cryptocurrency coin trusts and target the United States market to advertise their products and services. However, these advertisers must meet specific requirements and obtain certification from Google.
The updated guidelines cover financial products that enable investors to trade shares in trusts holding significant amounts of digital currency. This category includes Exchange Traded Funds (ETFs), suggesting that the upcoming spot Bitcoin ETF could benefit from this policy alteration.
Applicants such as BlackRock, ARK Invest, and Grayscale could potentially receive permission to advertise their spot Bitcoin ETF by late January 2024, approximately three weeks after the speculated approval date.
The SEC is expected to make its final decision on the 13 ETF applications by January 10.
This policy change by Google holds significant importance as it opens up advertising opportunities for crypto trusts and potentially paves the way for increased visibility and adoption of Bitcoin and other cryptocurrencies.
As of the time of writing, Bitcoin was trading at $41,472, experiencing a 1.51% decrease in the last 24 hours, according to Benzinga Pro.
Overall, Google’s revised ad policies present a positive development for the crypto industry, providing more opportunities for advertising and exposure for crypto trusts, including the potential spot Bitcoin ETF. This move by Google aligns with the growing acceptance and integration of cryptocurrencies into mainstream financial markets.
