Coinspeaker
Crypto Community Awaits Bitcoin ETF Ads as Google Updates Its Policies
Google is preparing to update its policies today to accommodate the advertisement of some crypto products on major search engines. This has led a certain percentage of the crypto community to begin speculating about the possible inclusion of spot Bitcoin exchange-traded funds (ETFs) in the update.
The presumption is born from the belief that Bitcoin ETFs will likely meet all of Google’s criteria. If that is the case, the community expects Bitcoin ETFs to be hugely impacted. That is putting into consideration Google’s search capabilities of 100,000 searches per second.
Last month, Coinspeaker reported that Google will be revising its crypto-related ads policy on January 29. At the time, it was said the update would allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
How Bitcoin ETFs Qualify for Google’s Ads Policy Update
Google’s update covers “financial products that allow investors to trade shares in trusts holding large pools of digital currency.” If that requirement is anything to go by, the recently approved 11 spot Bitcoin ETFs will be included in the new policies. That is simply because by buying shares in a spot Bitcoin ETF, investors acquire a stake in the fund’s Bitcoin holdings.
In addition to qualifying, Bitcoin ETFs are set to see massive inflows from Google’s high transaction processing capability. As data from DemandSage suggests, Google processes no fewer than 8.55 billion searches daily.
Recall that the US Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs on January 10. That approval meant that the funds were now available to the general public in the United States. They are also regulated under the Securities Act of 1933, therefore, they are potentially a safe advertising option for Google.
It might be worth noting that Google did not expressly refer to spot Bitcoin ETFs in its allowed products. It mentioned “cryptocurrency coin trusts.” Nonetheless, the influence of Google ads on Bitcoin-related products cannot be overemphasized. That is especially true considering that SEC Chair Gary Gensler is also looking actively into Bitcoin Futures ETFs, which bagged approval in October 2021.
A New Era
It must be said that Google’s ads policy update signals a shift in its stance toward crypto. In 2018, the company placed a full ban on all crypto-related ads, citing consumer protection as the reason behind its action. Over the years, however, it has gradually eased the restrictions. Google first permitted certain crypto firms to advertise so long as they were registered with the Financial Crimes Enforcement Network (FinCEN). It has also revealed plans to boost the NFT sector by allowing advertisements from September 2024.
Crypto Community Awaits Bitcoin ETF Ads as Google Updates Its Policies
