Google has revealed plans to overhaul its advertising policy, clearing the runway for U.S.-based cryptocurrency trusts. This groundbreaking decision, slated to take effect on January 29, 2024, aligns perfectly with the much-anticipated approval of spot Bitcoin exchange-traded funds (ETFs).
In a bold step forward, Google unveiled a pivotal change log on December 6, heralding the imminent inclusion of "advertisers offering Cryptocurrency Coin Trust targeting the United States" in its cryptocurrency and related products ad policy.
This eagerly awaited transformation will open the floodgates for the promotion of "financial products that allow investors to trade shares in trusts holding large pools of digital currency" — a classification that is widely speculated to encompass ETFs.
Asserting the importance of legal compliance, Google reiterated the requirement for all advertisers to adhere strictly to local laws in the areas they target. This universal policy update will enforce stringent regulations across all accounts advertising such products on a global scale.
As the policy shift takes center stage, aspiring advertisers seeking to promote crypto trusts must attain Google certification to launch ads. The certification process mandates possessing the requisite license from the local governing authority. Additionally, their product offerings, landing pages, and ads must impeccably align with the legal frameworks of their target countries or regions.
This monumental policy adjustment arrives hand-in-hand with Bloomberg's ETF analysts placing a staggering 90% probability on the approval of U.S. spot Bitcoin ETFs by January 10, 2024. The industry eagerly anticipates the potential simultaneous approval of multiple pending applications for Bitcoin ETFs. However, the veil of secrecy continues to shroud the approval processes of the 13 Bitcoin ETF applicants.
Renowned fund managers such as BlackRock, Grayscale, and Fidelity have reportedly engaged in high-stakes discussions with the Securities and Exchange Commission (SEC) to navigate the intricate technicalities involved in their ETF bids.