Tech giant Google has updated its cryptocurrency-related advertising policy to allow ads for cryptocurrency trusts from late January, the same month that a spot Bitcoin (BTC) exchange-traded fund (ETF) is expected to be approved in the United States.
Google said in its policy change log on December 6 that its cryptocurrency and related products advertising policy will be updated on January 29, 2024 to allow advertising from “advertisers offering cryptocurrency coin trusts targeting the United States.” .
The cryptocurrency coin trust was presented as an example of a “financial instrument that allows investors to trade shares in trusts holding large pools of digital currencies, possibly including ETFs.”
“Once again, all advertisers must comply with local laws wherever their ads target. “This policy applies globally to all accounts advertising these products,” Google added.
Potential cryptocurrency trust advertisers must become Google Verified in order to display ads. Certification involves advertisers holding the appropriate licenses from the relevant local authorities, and “products, landing pages, and ads must meet all local legal requirements in the country or region in which they seek certification.”
Google already allows ads for some cryptocurrencies and related products, but excludes ads for cryptocurrency- or non-fungible token (NFT)-based gambling platforms, ICOs, decentralized finance protocols, and services that provide trading signals.
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The policy change comes as Bloomberg’s ETF analysts pegged the odds of approval for a U.S. spot Bitcoin ETF at 90% by January 10, 2024, determining that multiple pending applications are likely to be approved at once.
There are 13 applicants for the Bitcoin ETF, and there are few public details about the approval process. A number of fund managers, including BlackRock, Grayscale and Fidelity, reportedly recently met with the U.S. Securities and Exchange Commission to discuss “key technical details” for their ETF bid.
The cryptocurrency space is betting on acceptance. Bitcoin is up nearly 74% in the past 90 days, and some analysts expect it to hit a new all-time high in 2024.
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