There has been speculation that Google may run ads for Bitcoin exchange-traded fund (ETF). Cointelegraph reported on the 28th (local time) that Google plans to update its policies to allow advertising of certain cryptocurrency products on major search engines. The industry expects this change to have a positive impact on the Bitcoin ETF.
Cointelegraph already reported in December last year that "Google's cryptocurrency and related advertising policy will be revised on January 29, 2024 to allow advertising by advertisers who provide cryptocurrency coin trusts targeting the United States." there is.
If this change in Google's advertising policy is made, interest in Bitcoin ETFs is expected to increase, and cryptocurrency analysts expect that Google's high search processing power will have a positive impact on the inflow of funds into Bitcoin ETFs. I'm doing it. According to recent data from DemandSage, Google processes 8.55 billion searches every day, which is expected to have a significant impact on the cryptocurrency market.
However, Google vaguely describes the permitted products as 'cryptocurrency coin trusts', so more information is needed to determine which products will actually be allowed to appear as advertisements. This ambiguity may act as a factor that can cause confusion among the industry and investors.
Meanwhile, as regulations on spot Bitcoin ETFs are relaxed, Grayscale Bitcoin Trust (GBTC), one of the largest Bitcoin trusts, was one of several trusts approved by the SEC on the 10th to recently convert to a spot Bitcoin ETF. Accordingly, in the United States, the general public can now purchase spot Bitcoin ETFs, and since they are regulated under the Securities Act of 1933, it is expected that advertising policies will be updated to take this change into account.
This update increases the likelihood that other Bitcoin ETF products, including Grayscale Bitcoin Trust, will be exposed on Google's advertising platform. This is expected to be an opportunity to attract the attention of investors in the cryptocurrency market and change the public's view of the Bitcoin market to a more positive one.
