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Tech giant Google has announced an update to its cryptocurrency-related advertising policy. Starting from the end of January, the company will allow ads about crypto trusts. This policy change coincides with the predicted approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.
Google’s updated policy will permit ads from advertisers offering Cryptocurrency Coin Trusts targeting the United States. Cryptocurrency Coin Trusts are financial products that allow investors to trade shares in trusts holding large pools of digital currency, potentially including ETFs.
However, Google emphasizes that all advertisers must comply with local laws in the areas where their ads are targeted. The new policy will apply globally to all accounts advertising these products.
To run ads for crypto trusts, advertisers must be Google-certified. Certification requires the advertiser to have the appropriate license from the relevant local authority, and their products, landing pages, and ads must meet all local legal requirements.
While Google already allows advertising for some 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.
This policy change aligns with Bloomberg’s ETF analysts’ prediction of a 90% chance of a U.S. spot Bitcoin ETF approval by January 10, 2024. Multiple pending applications could potentially be approved simultaneously.
There are currently 13 Bitcoin ETF applicants, and details about their approval processes are limited. Several fund managers, including BlackRock, Grayscale, and Fidelity, have reportedly met with the Securities and Exchange Commission to discuss technical details about their ETF bids.
The crypto space is optimistic about these approvals, with Bitcoin’s value increasing by nearly 74% in the past 90 days. Analysts anticipate a new all-time high for Bitcoin in the coming year.
Overall, Google’s updated advertising policy reflects the growing acceptance and interest in cryptocurrencies, particularly with the potential approval of Bitcoin ETFs in the United States.