Google to relax advertising policy on cryptocurrency ETFs

Google to relax advertising policy on cryptocurrency ETFs

Rumors that a Bitcoin ETF may be approved in January have Google making preparations

Google has revised its cryptocurrency-related advertising policy and will permit ads for US-based crypto trusts beginning in January, around the same time Bitcoin exchange-traded funds (ETFs) are expected to be authorized in the country.

In its December 6 policy change log, Google communicated that its crypto and related products advertising guidelines will be revised on January 29, 2024, allowing ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”

Cryptocurrency coin trusts were used as models of “financial products that allow investors to trade shares in trusts holding large pools of digital currency,” which will likely include ETFs. “As a reminder, we expect all advertisers to comply with the local laws for any area their ads target. This policy will apply globally to all accounts that advertise these products,” added Google.

Crypto trust advertisers must first be certified by Google to run ads. Certification includes the advertiser holding the proper license from local authorities, and “their products, landing pages, and ads must meet all local legal requirements of the country or region they want to get certified for.”

Google currently permits advertising for some crypto and related products but bans ads of crypto or nonfungible token (NFT) gambling providers, decentralized finance protocols, initial coin offerings and trading signal services.

The guideline changes come as Bloomberg ETF analysts say there’s a 90% chance that US spot Bitcoin ETF will be approved before January 10, 2024, with the possibility for numerous pending applications to all be endorsed.

Several fund managers, including Fidelity, Grayscale and BlackRock, have recently reported they’ve met with the US Securities and Exchange Commission to examine “key technical details” about their ETF applications.

Bitcoin is up almost 74% in the past 90 days, with many analysts expecting a new record high in 2024.

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