Bitcoin ETF ads may appear on Google starting Monday, community speculates

On Monday, Jan. 29, Google is set to update its policies to allow certain cryptocurrency products to be advertised on major search engines. Bitcoin exchange-traded funds (ETFs) appear likely to meet the criteria, sparking speculation within the crypto industry.

In December 2023, Cointelegraph reported that Google’s crypto and related ads policy will be revised on Jan. 29 to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”

With the recent approval of 11 spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) on Jan. 10, investors purchasing shares in a spot Bitcoin ETF acquire a stake in the fund’s Bitcoin holdings

Crypto analysts are optimistic about the potential inflows to Bitcoin ETFs, citing Google’s high transaction processing capacity in searches. According to recent data from DemandSage, Google processes 8.55 billion searches daily.

However, Google vaguely refers to the allowed products as “cryptocurrency coin trusts.”

Meanwhile, one of the largest Bitcoin trusts, the Grayscale Bitcoin Trust (GBTC), recently converted to a spot Bitcoin ETF as part of the several approved by the SEC on Jan. 10.

Previously, buying GBTC shares on the primary market was only available to accredited investors and subject to a six-month holding period.

#news #btc #etf #google

Jan-29-2024 07:46:28 AM