By: Eva Baxter
In light of the anticipated approval of spot Bitcoin ETFs, Google, the tech behemoth, has updated its cryptocurrency-related advertising policy. As of January 2024, the company will permit ads about U.S. based-crypto trusts. This strategic move seems well timed, considering that spot Bitcoin Exchange-Traded-Funds (ETFs) are predicted to receive consent in the U.S. during the same month.
Subsequent to the policy shift on December 6, Google's crypto-related products ad policy will change on January 29, 2024, permitting ads from 'advertisers offering Cryptocurrency Coin Trust targeting the United States.' Cryptocurrency Coin Trusts are depicted as 'financial products that allow investors to trade shares in trusts holding large pools of digital currency', which will likely encompass ETFs.
These trusts, as per Google's definition, are financial tools allowing investors to trade shares in trusts holding broad pools of digital currencies. Google insists this policy revamp highlights the continuity of its commitment to ensure advertisers respect local laws in their targeted areas. However, this seems particularly opportune, given the expectation of a surge of Bitcoin ETFs awaiting approval.
This incremental policy modification is a testament to Google's developing approach towards digital finance's dynamic realm, along with its adaptability in paving the way for other industry giants such as BlackRock, Fidelity, and VanEck.
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