Alphabet Inc’s GOOGL GOOG search engine arm, Google, has revised its ad policies concerning “crypto trusts.” This comes ahead of the potential approval of Bitcoin BTC/USD spot ETF applications by the Securities and Exchange Commission (SEC).
What Happened: According to a report by FXStreet on Monday, Google’s revised ad policy, effective from December 6, permits advertisers who offer cryptocurrency coin trusts, and target the United States market, to advertise their products and services.
However, these advertisers must meet specific requisites and secure certification from Google.
The revamped guidelines encompass financial products that allow investors to trade shares in trusts that hold significant amounts of digital currency. Exchange Traded Funds (ETFs) are included in this category, suggesting that the upcoming spot Bitcoin ETF could benefit from this policy alteration.
See Also: What’s Going On With AVAX? Avalanche Bucks Crypto Pullback, Maintains Upward Momentum On Monday
Why It Matters: Applicants such as BlackRock, ARK Invest, and Grayscale could be granted permission to advertise their spot BTC ETF by late January 2024, roughly three weeks following the speculated approval date.
The SEC is slated to make its final decision regarding the 13 ETF applications by January 10.
Price Action: At the time of writing, Bitcoin BTC/USD was trading at $41,472, down 1.51% in the last 24 hours, according to Benzinga Pro.
Photo by Pawel Czerwinski on Unsplash.
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