Aaryamann Shrivastava
FXStreet
- Google allowed advertising for cryptocurrency coin trusts, including the likes of spot Bitcoin ETFs.
- Only certain crypto and related products were allowed advertising on Google before January 2024.
- The change in guidelines comes ahead of the potential spot Bitcoin ETF approval, which is expected by January 10, 2024.
One of the biggest bullish crypto waves is expected to arrive by the beginning of 2024 as the Securities and Exchange Commission (SEC) is likely to approve the spot Bitcoin ETF applications. The potential impact of this is being embraced by even the likes of Google, which is amending its policies to make the most of this event.
Google acknowledges the impact of spot Bitcoin ETFs
In a policy update on December 6, the multinational technology company changed its advertising guidelines related to cryptocurrencies and related products. Google stated,
“Beginning January 29, 2024, advertisers offering Cryptocurrency Coin Trust targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google.
Google defined these trusts as inclusive of financial products that allow investors to trade shares in trusts holding large pools of digital currency. Exchange Traded Funds (ETFs) also fall under this category, making the upcoming spot Bitcoin ETF a likely beneficiary of this policy.
Applicants, including the likes of BlackRock, ARK Invest, and Grayscale, will be able to advertise their spot BTC ETF by the end of January, about three weeks after the speculated approval date.
At the moment, the SEC is expected to give its final decision on the 13 ETF applications by January 10. The decision will most likely be approved since the courts in the United States have set a precedent in the Grayscale lawsuit, stating that there is no considerable reason to reject these applications.
This event is expected to mark the beginning of a sustained Bitcoin bull rally, which will also lead to a surge in the prices of other altcoins.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
IRS says crypto staking should be taxed in response to lawsuit
The IRS stated that rewards from cryptocurrency staking are taxable upon receipt, according to a Bloomberg report on Monday, which stated the agency rejected a legal argument that sought to delay taxation until such rewards are sold or exchanged.
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode
Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.
Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses
Ethereum is up 4% on Monday despite increased selling pressure across long-term and short-term holders in the past two days. If whales fail to maintain their recent buy-the-dip attitude, ETH risks a decline below $3,000.
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery
The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.