Google is updating its advertising policies to allow advertising of new cryptocurrency-related products, evidently including ETFs.
A few months after updating its advertising policies to allow the promotion of certain crypto products, Google is again expanding its advertising policies. The most recent update focuses on enabling advertisers to promote cryptocurrency-related trust products, Google revealed in a post.
The tech giant notes that from January 29, advertisers can promote “financial products that allow investors to trade shares in trusts holding large pools of digital currency.” Further clarification on the scope and requirements for the updated policy will come up in January 2024, Google added.
When the new changes go into effect, it will further broaden the scope of cryptocurrency-related products that advertisers can promote on Google’s vast network. In 2018, Google had banned crypto-related ads but has since gradually softened its stance.
At this time, the platform allows the promotion of certain products that do not directly involve promotions for users to buy, exchange, or hold cryptocurrencies. Advertisers may also promote NFT games that use blockchain-based assets to enhance the user experience or unlock new levels.
Bitcoin ETF Imminent?
Google’s latest advertising policy update and timing may further indicate that the United States Securities and Exchange Commission (SEC) is on the verge of approving spot Bitcoin ETFs.
The update specifically mentioned “advertisers offering Cryptocurrency Coin Trust targeting the United States.” In investing, investment trusts and ETFs are often used alternatively to refer to products that enable exposure to an underlying asset or index.
While nothing has been confirmed at this time, the latest developments at Google also come at a time when the SEC has reportedly entered advanced talks with issuers applying to launch Bitcoin ETFs.
The indications are that approval could come as soon as January, the same month Google will update its ad policies.
In the meantime, Bitcoin (BTC) has taken a breather after a period of uptrend. The leading cryptocurrency dropped to $40,400 in the early hours of Monday but has since rebounded to above $42,000.