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.
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