Google has introduced an update on its platform that focuses on crypto advertising guidelines to allow promotions of cryptocurrency trust products like spot Bitcoin ETFs (exchange-traded funds) and potentially hasten the growth of these products as well as the entire crypto market.
By January 2024, the tech giant plans to implement the policy update, coinciding with the potential approval of Bitcoin ETF items from Fidelity, BlackRock, ARK Invest, and other companies.
These products will most likely welcome several institutional capitals and more advertisements on Google that could empower the flood of potential investments.
The disclosure of the policy update could present BlackRock and other prospective cryptocurrency trust issuers with a favorable prospect to evaluate the advertising prospects available on Google.
The tech giant’s official update references the January 2024 publication of the policy on cryptocurrencies and other related products, which is intended to clarify the criteria and extent of the Cryptocurrency Coin Trust advertisement.
Towards the end of January 2024, advertisers who offer cryptocurrency through Coin Trust might advertise these products or services while meeting certain requirements and getting certified by the platform.
Google also defined the concept of newly approved ad collateral that will serve as financial items to allow investors and traders to exchange shares for trusts holding huge pools of virtual currencies.
Although Google has allowed advertising for specific crypto products, it maintains a list of other products that have not yet been approved for advertisement.
Additionally, ARK and Blackrock are consistently seeking approval for their spot ETH ETFs. Recently, cryptocurrency funds have witnessed an influx of rising capital, with institutional investors increasingly joining the market.
Like ETF products developed around gold, Bitcoin, Ethereum, and other crypto ETFs also anticipate considerable growth for asset classes.