Did you see Google Bitcoin ETF ads while you are using the search engine? On January 29, Google will implement a significant policy update to allow the promotion of certain cryptocurrency products on its leading search engine. Bitcoin exchange-traded funds (ETFs), which have emerged as potential candidates among the products that meet the criteria, are causing a stir in the cryptocurrency industry with their compliance.
This important development is based on Google’s decision to update its policy on cryptocurrency and related ads. Cointelegraph first reported this change in December 2023.
Google Bitcoin ETF ads: Google ends 5-year crypto ad ban
Along with this update, the 10-spot Bitcoin ETF, which was approved by the US Securities and Exchange Commission (SEC) on January 11, also attracts attention.
Cryptocurrency analysts are optimistic that Google’s capacity to manage search demand has the potential to increase investments in Bitcoin ETFs. According to the latest DemandSage data, Google’s daily search volume reached a staggering 8.55 billion.
However, Google’s policy update has created some ambiguity in defining the products allowed by the term “cryptocurrency trust.”
Another important development in the cryptocurrency world is the conversion of the Grayscale Bitcoin Trust (GBTC), the largest Bitcoin trust, into a spot Bitcoin ETF. This transition took place after being approved by the SEC on January 10.
Previously, GBTC shares were only available to accredited investors and were subject to a mandatory six-month waiting period. According to US regulatory standards, accredited investors are those with a net worth of over $1 million or an annual income of over $200,000 in the last two years. These requirements were introduced to protect less savvy investors from potentially risky ventures that could lead to financial losses.
On the other hand, spot Bitcoin ETFs are available to the general public in the US and are regulated under the Securities Act of 1933. This arrangement could potentially provide a safer option to support Google‘s advertising efforts.
Anticipation for Google’s policy update has been growing since prominent cryptocurrency trader Michael van de Poppe expressed optimism about the impact of Google ads on Bitcoin-related products in August 2021. This optimism has been further fueled by the growing acceptance of cryptocurrency-related investment products in the mainstream financial landscape following the SEC’s review and approval of Bitcoin Futures Opportunity ETFs in October 2021.
So far, BlackRock and VanEck have been the biggest beneficiaries of Google’s policy update, but other firms in the industry are likely to follow suit and promote their investment products even more.
For the first time in five years, the Google ad network allows certain cryptocurrency products, which can be considered a change in the company’s perspective on the cryptocurrency industry. The decision to ban ads in March 2018 was thought to be a reaction to fraud concerns at the time.
However, the new policy update shows that Google believes the cryptocurrency industry is becoming more mature and safer for investors. This can be seen as an important step to cement cryptocurrencies’ place in the financial system.
In conclusion, Google’s new policy update can be seen as an important development in the cryptocurrency sector. This update has the potential to increase interest in cryptocurrencies and accelerate the growth of the sector.
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