Google will update its advertising policy for cryptocurrencies starting Jan. 29, 2024, the search giant announced in a post on its website.
“Google will update the Cryptocurrencies and related products policy to clarify the scope and requirements for the advertisement of Cryptocurrency Coin Trusts,” Google said in the post. “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.”
On its support page, Google describes crypto coin trusts as “financial products that allow investors to trade shares in trusts holding large pools of digital currency,”
The announcement comes amid growing investor optimism that the Securities and Exchange Commission (SEC) will approve a spot bitcoin exchange-traded fund (ETF). The SEC is expected to announce its decision between Jan. 8 and 10. The agency is currently weighing 13 applications.
Read More: Signs Increasingly Point to January Approval of Spot Bitcoin ETF Applications
Last week, BlackRock, the world’s largest asset manager, heightened expectations when it disclosed that it had received $100,000 in seed capital toward its applications. In recent weeks, the SEC has been meeting with BlackRock and other applicants to iron out details in their filings.
In 2018, Google banned advertising for cryptocurrencies and initial coin offerings. But it subsequently loosened its policy in 2021, permitting some ads in the U.S. related to bitcoin and certain altcoins with restrictions.
Google’s current ad policy for cryptocurrencies and related products does not allow advertisements for initial coin offerings and DeFi trading protocols. But it allows advertisements for businesses “not pertaining to the purchase, holding, or exchange of cryptocurrencies,” such as mining companies, tax firms or organizations that accept cryptocurrency payments.
In a Telegram message, Charles Storry, head of growth at crypto index platform Phuture, told Unchained that the announcement “signals Google’s recognition of the impending surge in interest within the crypto space, anticipated to be driven by a multitude of factors such as the emergence of ETFs and broader adoption across various sectors.”
“Google understands that crypto is more than just a fleeting trend,” he wrote.
Read More: Should First-Time Bitcoin Investors Buy Now or Wait for the ETF?
