Tech giant Google has updated its cryptocurrency-related advertising policy to allow ads about crypto trusts from the end of January, the same month that spot Bitcoin (BTC) exchange-traded-funds are predicted to be approved in the United States.
In a Dec. 6 policy change log, Google said its crypto and related products ad policy will be updated on Jan. 29, 2024, to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
Cryptocurrency Coin Trusts were exampled as “financial products that allow investors to trade shares in trusts holding large pools of digital currency” — likely including ETFs.
“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,” Google added.
Potential crypto trust advertisers must be Google-certified to run ads. Certification includes the advertiser having the appropriate license from the relevant local authority, and “their products, landing pages, and ads must meet all local legal requirements of the country or region they want to get certified for.”Google’s full change log relating to allowing crypto trust ads. Source: Google
Google already allows advertising for some crypto and related products but excludes ads of crypto or nonfungible token (NFT)-based gambling platforms, initial coin offerings, decentralized finance protocols and services offering trading signals.
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The policy change comes as Bloomberg’s ETF analysts have pinned 90% odds of a U.S. spot Bitcoin ETF approval by Jan. 10, 2024, with the potential that multiple pending applications are approved at once.
There are 13 Bitcoin ETF applicants and public details about their approval processes are scarce. Many fund managers — including BlackRock, Grayscale and Fidelity — have met with the Securities and Exchange Commission, reportedly to discuss “key technical details” about their ETF bids.
The crypto space is betting on approvals. Bitcoin is up nearly 74% in the past 90 days, and some analysts expect a new all-time high next year.
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