Google, a subsidiary of tech conglomerate Alphabet, is set to implement a significant policy update on Jan. 29 that could have a major impact on cryptocurrency advertising. This move follows the recent approval by the U.S. Securities and Exchange Commission (SEC) of 11 spot Bitcoin (BTC) ETFs on Jan. 10.
With the new policy, Google will allow asset managers to advertise these products to a wider U.S. audience. This comes after the company’s decision to expand its cryptocurrency and related products’ policy, providing specific guidelines for promoting “cryptocurrency coin trusts.”
Advertisers looking to take advantage of Google’s extensive reach and high search volume will now need certification to ensure compliance with the company’s strict requirements. This development is significant, especially with the Grayscale Bitcoin Trust (GBTC) converting to a spot Bitcoin ETF and 10 other institutions being allowed to include spot BTC ETFs in their investment portfolios.
Crypto analysts are optimistic about the impact of this policy change on the digital currency space, as Google processes around 8.55 billion searches daily. This could bring more visibility and investment to Bitcoin ETFs.
The crypto community believes that Google’s ad platform could tip the scales for Bitcoin ETFs by driving significant awareness and investment in the space. This is especially notable as Google processes 100K searches per second. This update could also change how cryptocurrency products are advertised, ensuring legal compliance and responsible presentation to an engaged audience.
Google’s policy change comes at a crucial time, as the market has seen fluctuating investor sentiment toward spot Bitcoin ETFs in recent weeks. On Jan. 24, there was a net inflow of $270 million, but significant withdrawals, particularly from Grayscale Investment’s Bitcoin ETF, resulted in a net outflow of $153 million. This trend continued on Jan. 25, with net outflows of $80 million from funds recognized by the SEC in the past week.
Despite these challenges, experts believe that Google’s policy shift could attract a wave of new investors. The increased visibility and required certification could counterbalance the recent outflows, potentially leading to a rebound as the Jan. 29 implementation date approaches.
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