Community Speculation Bitcoin ETF ads may appear on Google starting Monday.
On Monday, Google is set to update its policy to allow certain cryptocurrency products to be advertised on its main search engine. Bitcoin exchange-traded funds (ETFs) appear to meet the criteria, sparking speculation in the crypto industry.
In the year In December 2023, Cointelegraph reported that Google's crypto and related advertising policy would be revised on January 29 to announce “advertisers offering cryptocurrency coin trusts targeting the United States.”
Reports are circulating that Google will change their policy and allow #Bitcoin ETF ads starting January 29th.
Google processes 100,000 searches/second
Bitcoin will have an unprecedented level of institutional and retail exposure.
Prepare accordingly
— The ₿itcoin Therapist (@TheBTCTherapist) January 25, 2024
With the recent approval of 11 Spot Bitcoin ETF applications by the United States Securities and Exchange Commission (SEC) on January 10, investors who buy shares in a Spot Bitcoin ETF have a stake in the fund's Bitcoin holdings. This conforms to Google's current requirements:
“Financial products that allow investors to trade shares in trusts that hold large pools of digital currency.”
Crypto analysts are optimistic about Google's potential foray into Bitcoin ETFs, citing its potential for high transaction processing in search. According to recent data from DemandSage, Google processes 8.55 billion searches per day.
Big news
GOOGLE WILL ALLOW #BITCOINAND CRYPTO ETF ADVERTISEMENTS FROM JANUARY 29, 2024.
Bullish
— Ash Crypto (@Ashcryptoreal) January 26, 2024
However, Google did not make clear the permitted products in the “cryptocurrency coin trust” advertisement.
Meanwhile, one of the largest Bitcoin trusts, Greyscale Bitcoin Trust (GBTC), recently converted to a Bitcoin ETF as part of the Bitcoin ETF applications approved earlier this month.
Previously, the purchase of GBTC shares on the main market was only available to accredited investors and was for a period of six months.
Related: Bitcoin Price War Continues for $40K – Here's What BTC Bulls Should Do
Accredited investors must have a net worth of more than $1 million or more than $200,000 in revenue in the past two years. These rules are designed to protect investors with limited knowledge from making risky investments that could cost them money.
However, Spot Bitcoin ETFs are available to the general public and are protected by the SEC's Securities Act of 1993, making them a safe option for Google to consider in advertising.
In the year In August 2021, well-known cryptocurrency trader Michael Van de Pop was optimistic about the impact of Google ads on Bitcoin-related products, especially in light of the October 2021 SEC bench, exploring Bitcoin Futures ETFs.
SEC Chairman Open to #Bitcoin ETF.
Here's another rant after Google opened up an ad for #Bitcoin .
Huge.
A bully.
— Michael Van de Pop (@CryptoMichNL) August 3, 2021
Magazine: Bitcoin ETF guru Eric Balchunas has the last laugh on skeptics: X Hall of Flame
