Google Updates Crypto Ads Policy to Include Cryptocurrency Coin Trusts
Google has announced a revision to its crypto ads policy, allowing the advertising of “Cryptocurrency Coin Trusts” targeting the United States. The update, set to take effect on January 29, will permit Google-certified advertisers to promote these products if they meet the company’s requirements. Google’s definition of these trusts includes financial products that enable investors to trade shares in trusts holding large pools of digital currency. Advertisers must still comply with local laws when targeting other regions, and violations will result in a warning before any account suspension.
Spot Bitcoin ETF Approvals Awaited
Google’s crypto ads policy update coincides with the anticipated approval of spot bitcoin exchange-traded funds (ETFs) in the US. However, it remains unclear whether ETFs fall under Google’s definition of Cryptocurrency Coin Trusts. The Security and Exchange Commission (SEC) is expected to make decisions on applications from firms including BlackRock, Bitwise, WisdomTree, and others in mid-January. Additionally, the SEC is reviewing Grayscale’s Bitcoin Trust product after being instructed by the US Court of Appeals for the D.C. Circuit to reconsider its bid for converting GBTC into a spot bitcoin ETF. Bloomberg analyst James Seyffart suggests that potential spot bitcoin ETF approval may occur between January 5 and 10.
Hot Take: Google Expands Crypto Advertising Reach Ahead of Expected Spot Bitcoin ETF Approvals
Google’s decision to include “Cryptocurrency Coin Trusts” in its crypto ads policy demonstrates a growing acceptance of digital assets within mainstream advertising platforms. By allowing certified advertisers to promote these products, Google is acknowledging the evolving landscape of cryptocurrencies and their investment opportunities. The timing aligns with the highly anticipated approval of spot bitcoin ETFs in the US, which could further legitimize and boost the adoption of cryptocurrencies. As regulators continue to review and reconsider various applications, the path towards establishing a regulated and accessible crypto market becomes clearer. Google’s expansion of its advertising policy reflects the industry’s progress and potential for continued growth.
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