Google to Allow Ads for Crypto Trusts
Google has announced that it will update its advertising policy to allow ads about crypto trusts starting from the end of January. This policy change comes at the same time that spot Bitcoin exchange-traded funds (ETFs) are predicted to be approved in the United States.
What are Crypto Trusts?
Crypto trusts are financial products that enable investors to trade shares in trusts holding large pools of digital currency. These trusts likely include ETFs. The updated policy will allow advertisers offering Cryptocurrency Coin Trusts targeting the United States to run ads on Google.
Global Policy Compliance
Google expects all advertisers to comply with local laws for the areas their ads target. The updated policy will apply globally to all accounts advertising these products. Advertisers must be Google-certified and meet all local legal requirements of the country or region they want to get certified for.
Exclusions and Pending Approvals
While Google already allows advertising for some crypto and related products, it excludes ads for crypto or nonfungible token-based gambling platforms, initial coin offerings, decentralized finance protocols, and services offering trading signals. Meanwhile, Bloomberg's ETF analysts have predicted a 90% chance of a U.S. spot Bitcoin ETF approval by January 10, 2024, with the potential for multiple pending applications to be approved simultaneously.
Rise in Bitcoin and Expectations
The crypto space is optimistic about the potential approvals. Bitcoin has seen a nearly 74% increase in the past 90 days, and analysts anticipate a new all-time high in the coming year.
