The largest social media platform allows Bitcoin ETF ads
Two of the largest social media platforms in the world are now allowing companies to promote Bitcoin ETFs (exchange-traded funds). This marks a significant step towards increasing the adoption of cryptocurrencies in the mainstream.
Facebook and Instagram are in the process of updating their advertising policies to promote the Bitcoin ETF in the US.
The new policies could pave the way for Bitcoin ETF ads to appear on Facebook and Instagram. Each of these companies has a large user base with over 2 billion monthly active users;
ETF Store President Nate Geraci emphasized the importance of Facebook's older demographics. By opening up these platforms, he says, Bitcoin ETF ads can expand their reach, appealing to baby boomers who don't know much about cryptocurrency investments.
“Facebook and Instagram may soon allow Bitcoin ETF ads… No Boomer Hanpot more than Facebook.
Similarly, Google has recently allowed the promotion of certain cryptocurrency products, including Spot Bitcoin ETF. The crypto community hailed this decision, speculating that it would increase the visibility of these products to a wider audience.
Successful launch of Bitcoin ETFs
The introduction of spot Bitcoin ETFs has proven to be a phenomenal hit in the investment community. Their success has further fueled the rise of crypto-based spot ETFs.
This growing popularity has attracted significant investment, with two Bitcoin ETFs in January alone – BlackRock's IBIT and Fidelity's FBTC – ranking in the top 10 for total returns. These Bitcoin ETFs recorded net inflows of $2.6 billion and $2.2 billion, respectively.
Read more: How to prepare for a Bitcoin ETF: A step-by-step approach
Moreover, BlackRock's IBIT and Fidelity's FBTC secured spots on the list of the five fastest growing ETFs to reach $1 billion in assets under management. This shows the rapid growth and acceptance of Bitcoin ETFs in the financial markets.
Disclaimer
Adhering to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This newsletter aims to provide accurate and up-to-date information. However, readers are advised to independently verify facts and consult with experts before making any decisions based on this content. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
