Google is preparing to update its cryptocurrency advertising policies to allow advertisements related to cryptocurrency exchange-traded funds (ETFs), reversing its 2018 ban on crypto ads.
As per reports, Google’s new policy language indicates it may permit ads for “Cryptocurrency Coin Trusts”, likely referring to Bitcoin ETFs that hold cryptocurrency assets.
This shift follows recent decisions by the US Securities regulator allowing several firms such as BlackRock and Fidelity Investments to launch spot Bitcoin ETFs. Industry experts state that Google’s relaxed advertising rules could now help these ETF issuers reach more investors.
Back in 2018, Google enforced strict prohibitions on all cryptocurrency-related advertisements, including on exchanges, wallets, trading advice, and initial coin offerings. The move intended to shield retail investors from potential risks.
However, Cryptocurrency ETFs that trade on stock exchanges offer exposure to digital assets through shares of trusts, providing a regulated investment vehicle. Their approval prompted Google to revisit its advertising policies.
By permitting ads by ETF firms, Google stands to benefit issuers like BlackRock which can attract investors at lower costs. This indicates changing sentiments around cryptocurrencies among mainstream corporations.
The anticipated policy update marks a notable departure from Google’s earlier hardline stance. Experts have termed this as a response to maturing crypto regulation that compelled the tech giant to rethink its marketing rules to adapt to the evolving ecosystem.
As the cryptocurrency industry witnesses wider adoption, observers expect more corporations to slowly embrace related products and services, as evident in Google’s upcoming advertising policy overhaul.
