Google will amend its policies to allow certain Bitcoin products to be marketed on their respective main search engines.
On Monday, January 29, Google will amend its policies to allow certain Bitcoin products to be marketed on their respective main search engines.
Exchange-traded funds (ETFs) that offer Bitcoin appear to have a good chance of satisfying the requirements, which has sparked speculation within the cryptocurrency market.
According to a report by Coinxposure in December 2023, Google altered its policy regarding cryptocurrency and related advertisements on January 29th, 2023, to permit advertisements from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
The United States Securities and Exchange Commission (SEC) approved eleven spot Bitcoin exchange-traded funds (ETFs) on January 10.
As a result of this clearance, investors who purchase shares in a spot Bitcoin ETF receive a stake in the fund’s Bitcoin assets. This satisfies the most recent standards set forth by Google:
“Financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
Google’s high transaction processing capacity in searches has cryptocurrency analysts hopeful about potential inflows to Bitcoin exchange-traded funds (ETFs).
DemandSage recently collected data indicating that Google processes 8.55 billion queries every single day. On the other hand, Google uses the catchphrase “cryptocurrency coin trusts” to refer to the permitted items.
As a result of the recent conversion of one of the largest Bitcoin trusts, the Grayscale Bitcoin Trust (GBTC), to a spot Bitcoin exchange-traded fund (ETF), the Securities and Exchange Commission (SEC) approved many Bitcoin ETFs on January 10th.
Authorized investors only could purchase GBTC shares on the primary market and were subject to a holding term of six months. A net worth of more than one million dollars or a minimum of two hundred thousand dollars in earned income over the preceding two years is required for accredited investors.
These regulations aim to safeguard potential investors with a limited understanding of the market from potentially dangerous investments that could result in the loss of their assets.
Spot Bitcoin exchange-traded funds on the other hand are accessible to individual investors in the United States. Given that they are subject to the Securities Act of 1933, Google may want to consider using them as an advertising choice because they are a possible safer option.
Michael van de Poppe, a well-known cryptocurrency trader, expressed optimism in August 2021 over the impact of Google advertisements on items related to Bitcoin.
Michael van de Poppe expressed optimism in August 2021 over the impact of Google advertisements on items related to Bitcoin, as the head of the Securities and Exchange Commission (SEC) investigated and approved Bitcoin Futures ETFs in October 2021.