Google’s New Crypto Ad Policy Might Increase Investors’ Attention towards Bitcoin ETFs
Tech behemoth Google announced last month that it would enable new crypto ad policy effective January 29, 2024.
As a result, the crypto community speculates that the amendment might include the recently approved Bitcoin exchange-traded funds (ETFs) promotions.
Google announced at the time that it would allow US marketers advertise Cryptocurrency Coin Trust products.
In particular, the update stressed “financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
Interestingly, the definition aligns closely with the spot Bitcoin ETFs, approved by the US SEC on Jan 10.
Investors purchasing a spot Bitcoin ETF are not directly purchasing Bitcoin itself, but the fund that holds it as the underlying asset.
Crypto Community Anticipates Bitcoin ETF Ads
This alignment has stirred optimism among the crypto community, given Google’s ability to process an overwhelming 8.55 billion searches per day, as reported by DemandSage.
One crypto speculator took to X (Formerly Twitter), predicting that Bitcoin would witness “unprecedented levels of institutional and retail exposure.”
Reports are circulating that Google will be changing their policy and allowing #Bitcoin ETF ads starting on Jan 29th. Google processes 100K searches/sec 🤯 Bitcoin is going to have unprecedented levels of institutional and retail exposure. Prepare accordingly — The ₿itcoin Therapist (@TheBTCTherapist) January 25, 2024
Besides, the expansive reach and high search volumes have motivated advertisers that meet certification requirements, to capitalize on Google’s platform.
Various users speculated that the ramifications of the policy change will reflect in boosting the visibility of Bitcoin ETFs.
This is because Google stands the biggest advertising network in the world with over $224 billion turnover in advertising.
Google is the biggest advertising network in the world. +2x bigger than second biggest ad network Meta (Facebook/IG).#Bitcoin ETFs can start advertising on Google from tomorrow. Bullish… 🔥 pic.twitter.com/XGCYQnfaYM — Bitcoin Archive (@BTC_Archive) January 28, 2024
The community is eagerly anticipating an influx of investors following the update, as it would allow more accessible investment options for the general public.
Furthermore, this could lift the recently recorded spot Bitcoin ETFs’ $80 million net outflows, that signaled dropping interests among investors.
Crypto-Related Ads to Pop-up Starting Monday: Five Years After Google Ban
The search engine giant announced a complete ban on crypto-related adverts in March 2018. This includes crypto exchange ads, ICO promotions, crypto trading advice, among others.
“This policy will apply globally to all accounts that advertise these financial products,” Google stressed at the time.
Google’s move at the time followed a similar ad ban on crypto-related products by social media giant Facebook earlier.
Source: cryptonews.com
