Google started allowing ads featuring US spot cryptocurrency exchange-traded funds (ETFs) from January 29.
The company’s limited financial products policy page now reads:
“Google allows ads promoting cryptocurrency coin trusts that target the United States as long as the advertiser has successfully registered under Section 12 of the Exchanges Act using Form 10-12g. Reporting requirements… and any other local legal requirements must also be adhered to. Advertisers must also be certified with Google.”
Third-party reports indicate that some asset managers have already started advertising their ETFs with Google. One X-post from WatcherGuru shows that BlackRock and VanEck are now spotting Bitcoin ETFs as sponsored links in Google search results. Another message from BITCOINLFG® indicates that sponsored links for Franklin Templeton’s product appear in those results.
An update from December indicates that the policy takes effect today, January 29, 2024, and has been planned for more than a month.
On the same page, cryptocurrency trusts are defined as “financial products that allow investors to trade shares in trusts that hold large amounts of digital currencies.”
That definition clearly includes several spot Bitcoin ETFs that regulators approved on January 10. Furthermore, because the definition does not mention Bitcoin or any other specific cryptocurrency, it will presumably allow advertising related to spot Ethereum ETFs if such a fund gains approval in the US. the upcoming months.
Google currently allows other crypto ads
Google largely banned cryptocurrency-related ads around 2018, but has gradually rolled back these restrictions in recent months and years.
In June 2021the company updated its policy to allow advertising for some crypto exchanges and wallets in the US, but maintained a ban on initial coin offerings (ICOs) and aggregation or comparison services. In July 2022it expanded similar rules that allow international exchange and wallet advertising.
In August 2023Google started allowing ads for blockchain-based NFT games that don’t include gambling features. The company’s current policy also states that advertisements for hardware wallets are allowed.
The message that Google allows spot Bitcoin ETF ads; BlackRock and VanEck among the sponsored links first appeared on CryptoSlate.