Google Unleashes Crypto Trust Ads

8 views 6:53 am 0 Comments December 19, 2023

Google has announced updates to its cryptocurrency-related
advertising policy, permitting ads for crypto trusts starting January 29, 2024.
This change aligns with the anticipated approval of spot Bitcoin
exchange-traded funds (ETFs) in the United States in the same month.

Google clarified that the policy applies globally and
expects advertisers to comply with local laws targeting their ads. Advertisers
for cryptocurrency coin trusts must be Google-certified, possessing the
required licenses and meeting legal requirements in the targeted regions.

While Google already allows certain crypto ads, it excludes
those related to gambling platforms, initial coin offerings, decentralized
finance protocols, and trading signals. The move coincides with Bloomberg’s ETF
analysts giving a 90% probability of U.S. spot Bitcoin ETF approval by January
10, 2024, potentially approving multiple pending applications.

Key Moves in Anticipation of Bitcoin ETF Approval

In an earlier report, Finance Magnates wrote that the US
Securities and Exchange Commission (SEC) had engaged with key players in
the crypto industry ahead of a crucial decision on approving a bitcoin
exchange-traded fund (ETF). Memos released earlier revealed discussions with
Grayscale, which recently challenged and won against the SEC’s resistance to
its Grayscale Bitcoin Trust transforming into an ETF.

The SEC
also held talks with representatives from BlackRock and Nasdaq. While the SEC
can deny crypto ETFs, many industry experts anticipate their launch in the US
early next year. Despite SEC Chair Gary Gensler’s criticism of
cryptocurrencies, he has shown willingness to consider staff input on a
potential bitcoin ETF.

Grayscale’s hiring of John Hoffman, an executive from
Invesco ETF, as Managing Director, signals preparedness to launch the fund if
approved. The market’s growing confidence in a bitcoin ETF approval appeared to
positively influence Bitcoin’s price, which rebounded above $37,000 from a
late-summer dip to around $26,000 during the week when the memos were released.

With 13 Bitcoin ETF applicants, players like BlackRock,
Grayscale, and Fidelity have engaged with the U.S. Securities and Exchange
Commission, contributing to the positive sentiment in the crypto space, where
Bitcoin has surged nearly 74% in the past 90 days.

Google has announced updates to its cryptocurrency-related
advertising policy, permitting ads for crypto trusts starting January 29, 2024.
This change aligns with the anticipated approval of spot Bitcoin
exchange-traded funds (ETFs) in the United States in the same month.

Google clarified that the policy applies globally and
expects advertisers to comply with local laws targeting their ads. Advertisers
for cryptocurrency coin trusts must be Google-certified, possessing the
required licenses and meeting legal requirements in the targeted regions.

While Google already allows certain crypto ads, it excludes
those related to gambling platforms, initial coin offerings, decentralized
finance protocols, and trading signals. The move coincides with Bloomberg’s ETF
analysts giving a 90% probability of U.S. spot Bitcoin ETF approval by January
10, 2024, potentially approving multiple pending applications.

Key Moves in Anticipation of Bitcoin ETF Approval

In an earlier report, Finance Magnates wrote that the US
Securities and Exchange Commission (SEC) had engaged with key players in
the crypto industry ahead of a crucial decision on approving a bitcoin
exchange-traded fund (ETF). Memos released earlier revealed discussions with
Grayscale, which recently challenged and won against the SEC’s resistance to
its Grayscale Bitcoin Trust transforming into an ETF.

The SEC
also held talks with representatives from BlackRock and Nasdaq. While the SEC
can deny crypto ETFs, many industry experts anticipate their launch in the US
early next year. Despite SEC Chair Gary Gensler’s criticism of
cryptocurrencies, he has shown willingness to consider staff input on a
potential bitcoin ETF.

Grayscale’s hiring of John Hoffman, an executive from
Invesco ETF, as Managing Director, signals preparedness to launch the fund if
approved. The market’s growing confidence in a bitcoin ETF approval appeared to
positively influence Bitcoin’s price, which rebounded above $37,000 from a
late-summer dip to around $26,000 during the week when the memos were released.

With 13 Bitcoin ETF applicants, players like BlackRock,
Grayscale, and Fidelity have engaged with the U.S. Securities and Exchange
Commission, contributing to the positive sentiment in the crypto space, where
Bitcoin has surged nearly 74% in the past 90 days.