In a notable update to its advertising policies, Google is set to permit advertisements for U.S.-based crypto trusts beginning January, coinciding with the anticipated approval of spot Bitcoin exchange-traded funds (ETFs) in the same month.
Announced in a policy change log on Dec. 6, Google revealed that starting Jan. 29, 2024, its policy regarding ads for cryptocurrency and related products will be modified to include ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
This update seems to encompass cryptocurrency coin trusts, described as “financial products that allow investors to trade shares in trusts holding large pools of digital currency,” potentially including ETFs.
Google emphasized the importance of compliance with local laws, stating, “As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these products.”
For potential advertisers of crypto trusts to be eligible, they must obtain certification from Google. This process requires having the necessary local license and ensuring that their products, landing pages, and ads adhere to all legal requirements in the targeted regions.
Google’s current advertising policy already accommodates certain crypto and related product ads but excludes promotions for crypto or nonfungible token (NFT)-based gambling, initial coin offerings, decentralized finance protocols, and trading signal services.
This update aligns with Bloomberg’s ETF analysts predicting a 90% likelihood of a U.S. spot Bitcoin ETF being approved by Jan. 10, 2024. This could lead to simultaneous approvals for multiple pending applications.
The Bitcoin ETF landscape includes 13 applicants, with limited public information on their approval processes. Major fund managers like BlackRock, Grayscale, and Fidelity have reportedly engaged with the U.S. Securities and Exchange Commission recently to discuss “key technical details” of their ETF proposals.
The crypto market is optimistic about these potential approvals. Bitcoin has seen a 74% increase over the last 90 days, with analysts predicting a new peak in 2024.