On Monday, January 29, Google is slated to revise its advertising policies, opening the door for certain cryptocurrency products to be promoted. This adjustment might pave the way for advertisements related to recently-launched spot Bitcoin exchange-traded funds (ETFs) to surface on Google’s search engines.
However, the policy modification by Google specifically mentions permissible products as “advertisers offering Cryptocurrency Coin Trust targeting the United States,” introducing an element of ambiguity. Notably, one of the prominent Bitcoin trusts, the Grayscale Bitcoin Trust (GBTC), transitioned into a spot Bitcoin ETF following approval from the SEC.
Previously, GBTC shares were exclusively accessible to accredited investors through the primary market, subject to a six-month holding period. Accredited investors are individuals meeting specific financial criteria, such as having a net worth exceeding $1 million or a high earned income.
In contrast, spot Bitcoin ETFs are accessible to the general public in the United States and are governed by the Securities Act of 1933, potentially making them a safer advertising option for Google to consider. The policy update is viewed as a positive development, particularly considering Google’s extensive reach and influence in raising awareness and attracting investments for the 10 spot Bitcoin ETF issuers. BlackRock’s IBIT currently leads with the largest Assets Under Management (AUM), recently surpassing $2 billion.
