Crypto Bullion Goes Viral: XAUT Holders Soar 172% in Gold-Backed
Google’s Move Paves the Way for Bitcoin ETF Advertising
(Originally posted on : Crypto News – iGaming.org )
On January 10, the U.S. Securities and Exchange Commission (SEC) approved the establishment of eleven spot Bitcoin (BTC) exchange-traded funds (ETFs) in a calculated move. It is anticipated that Google would amend its advertising policies in reaction to this judgment, enabling asset managers to advertise these products to a larger U.S. audience.
Google has extended its policy on cryptocurrencies and related goods and is now providing advertisers with detailed instructions for marketing what it refers to as “cryptocurrency coin trusts.” With Google’s enormous reach and high search traffic, advertisers now need to become certified in order to meet the stringent standards set by the internet giant.
The Grayscale Bitcoin Trust (GBTC) becoming a spot Bitcoin ETF and ten additional institutions approving the inclusion of spot BTC ETFs in their investment portfolios lend significance to this development.
Implications for Bitcoin ETFs in the Digital Landscape
Crypto researchers believe that this policy change will benefit the digital currency space since, according to DemandSage, Google handles 8.55 billion queries every day.
Within the cryptocurrency world, there is conjecture that the enhanced exposure of Bitcoin ETFs via Google’s advertising network may generate substantial interest and funding for the industry. This increased exposure might draw interest from new public segments as well as seasoned investors or day traders.
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The policy update also suggests that the way bitcoin products are marketed may change in the future to ensure that they are presented responsibly and in accordance with the law to an interested public.
Google’s policy change comes at a good moment, given the recent volatility of market opinion around spot Bitcoin ETFs. On January 24, there was a net inflow of around $153 million from Bitcoin ETFs after substantial withdrawals, mostly from Grayscale Investment’s Bitcoin ETF, offset an inflow of about $270 million.
Analysts covering cryptocurrency remain upbeat in spite of these difficulties. They think that Google’s new policy may allow in a flurry of new investment. The mandated certification and enhanced visibility might offset recent withdrawals from spot Bitcoin ETFs, suggesting a possible comeback as the policy’s January 29 implementation date draws near.