- Google has recently updated its policies to accommodate crypto promotion.
- ETF issuers BlackRock and VanEck are advertising spot Bitcoin ETFs on Google.
- Investors are optimistic that this will drive more traffic to the crypto industry.
The SEC’s approval of Bitcoin ETFs marked a historic milestone for the cryptocurrency industry, following a year-long wait and speculation of a potential rejection. This marked a shift in the skeptical approach to the industry, drawing interest from traditional giants who had refrained from participating.
Against this backdrop, Google, a prominent search engine platform, has revised its once-frigid stance on promoting the asset class.
Bitcoin ETF Ads Live in Google
On Monday, January 29, promotional Bitcoin ETF ads from issuers BlackRock and VanEck debuted on Google, marking the end of the longstanding ban on crypto-related promotions.
This development aligns with Google’s recently revised policy, allowing U.S.-based entities and advertisers to promote ‘cryptocurrency coin trusts’ on its platform in compliance with regulatory requirements.
Investors are optimistic about the potential of the development to enhance visibility and promote the asset class to a broader audience, fostering mainstream adoption.
Other issuers are expected to follow suit and leverage the search engine’s influence to propel awareness of their offerings.
On the Flipside
- Malicious actors could exploit this development to defraud unsuspecting investors.
- Bitcoin ETF issuer BlackRock has recently raised concerns to the SEC about the cash-based creation and redemption system of Bitcoin ETFs.
- Grayscale’s converted Bitcoin ETF, GBTC, has had a shaky start to its launch, experiencing over $5 billion in outflows.
Why This Matters
The revision of Google’s policy to accommodate crypto-related promotions demonstrates the industry’s increasing acceptance by entities that were once dismissive towards it and promoted the credibility of the asset class.
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