Google's Policy Update Enables Advertising for Crypto Trusts in the United States

Google Updates Advertising Policy to Allow Crypto Trust Ads

Tech giant Google has announced an update to its cryptocurrency-related advertising policy that will allow ads about crypto trusts starting from the end of January. This change comes at the same time when spot Bitcoin exchange-traded funds (ETFs) are expected to be approved in the United States. The updated policy, which will take effect on January 29, 2024, will permit ads from advertisers offering Cryptocurrency Coin Trust targeting the United States.

Requirements for Crypto Trust Advertisers

In order to advertise crypto trusts, potential advertisers must be certified by Google. This certification involves obtaining the necessary license from the relevant local authority and ensuring that their products, landing pages, and ads comply with local legal requirements.

Current Crypto Advertising Policies

While Google already allows advertising for certain crypto and related products, it excludes ads for crypto or nonfungible token (NFT)-based gambling platforms, initial coin offerings, decentralized finance protocols, and services offering trading signals.

Expectation of Bitcoin ETF Approval

Bloomberg’s ETF analysts have predicted a 90% chance of a U.S. spot Bitcoin ETF approval by January 10, 2024. There are currently 13 Bitcoin ETF applicants, and details about their approval processes are limited. Many fund managers have recently met with the U.S. Securities and Exchange Commission to discuss technical details related to their ETF bids.

The Crypto Market’s Response

The crypto market is optimistic about the potential approvals of Bitcoin ETFs. The price of Bitcoin has increased by nearly 74% in the past 90 days, and some analysts anticipate a new all-time high in 2024.

Hot Take: Google Opens Doors for Crypto Trust Ads Ahead of Expected Bitcoin ETF Approvals

Google’s decision to update its advertising policy to allow crypto trust ads aligns with the anticipated approval of spot Bitcoin ETFs in the United States. This move indicates a growing acceptance and recognition of cryptocurrencies by major tech companies. As the crypto market eagerly awaits the potential ETF approvals, it remains to be seen how this development will impact the industry and further drive adoption.