TL;DR
- Google has potentially enacted a policy change to allow advertisements for Bitcoin and crypto ETFs to run on major search engines.
- The approval of Bitcoin ETFs has significantly shifted the mainstream approach to digital assets, and Google is adjusting its perspective accordingly.
Bitcoin ETFs Ad Will Now Run on Google
In a landmark development, Google is preparing to update its policies to allow advertisements of certain crypto products.
Bitcoin exchange-traded funds (ETFs) will likely meet the criteria, sparking speculation in the crypto sector.
The move could make way for upcoming crypto-centered adverts on major search engines.
Reports have been circulating in any case indicating that Google will revise Google’s crypto and related ad policies. It aimed to allow adverts from advertisers providing cryptocurrency coin Trust targeting the US.
After the recent approval of 11 spot Bitcoin ETFs by the US SEC, investors are purchasing shares in a spot Bitcoin ETF.
They acquire a stake in the fund’s Bitcoin holdings. And a factor that aligns with the updated Big Tech policies.
Financial products that allow investors to trade shares in trusts holding large pools of digital currency.
Part of Google update policy stated.
Market watchers are optimistic about the potential inflows to Bitcoin ETFs. They highlight that Google has a high transaction processing capacity in searches.
DemandSage data confirms this, indicating that Google processes roughly 8.55 billion searches daily.
Uncertainty Still Hangs in the Balance
At the moment, VanEck and BlackRock have already started advertising their spot Bitcoin ETFs after the policy change.
Other firms are expected to follow suit and advertise on Google under the new policy. However, uncertainty still hangs over which types of products will be allowed under this policy.
The update vaguely used the term Cryptocurrency Coin Trust, which needs more specificity than most crypto analysts desire.
It, therefore, leaves room for different interpretations and speculations. Before the policy change, Google allowed adverts for NFT games and companies that would enable crypto and licensed providers of crypto exchanges and wallets.
Initial Coin Offerings (ICOs), Staking NFT games, and gambling ads are still prohibited. In Sept 2023, the tech giant loosened its policy around NFT game adverts with the above exception.
The updated policy still requires certification to ensure compliance with Google’s stringent requirements.
Google Policy Change Comes at an Opportune Moment
Despite its vagueness, the policy change comes at an opportune moment. The crypto market has experienced fluctuating investor sentiment towards spot Bitcoin ETFs in the previous week.
On Jan. 24, 2024, Bitcoin ETFs registered an influx of roughly $270M. This was due to a counterbalance by massive withdrawals, mostly from Grayscale Investment’s Bitcoin ETF.
Grayscale saw a total net outflow of about $191 million. The market did recover following a continuation of the withdrawal streak on Jan.25, 2024.
The trend marked a fourth consecutive day of net outflows in the past week, summing up to $80 million. These outflows were particularly from funds recognized by the Securities and Exchange Commission (SEC).
Even with these circumstances, crypto analysts believe that Google’s policy change would potentially open doors for new institutional investors.
Increased visibility and required certification would counterbalance these recent outflows from the spot Bitcoin ETFs. Moreover, it could also signal a rebound in the coming days.
Will the new Google ads policy change tip the scales for Bitcoin ETFs?
Sam Farao
Sam is our pioneering figure in affiliate marketing and the blockchain space (prior to co-founding Coinweb.com). His ventures, including Netpixel Media and Captana, have set new benchmarks in the affiliate marketing industry, leading to a notable acquisition by Speqta AB for 31.5 million Norwegian kroner ($3.8 million USD). Farao's foray into blockchain technology is marked by the Lightbulb Man project, a blockchain-based art collection featuring NFTs, which sold out in one day! This highlights his role in merging the worlds...
