Google updates policy to allow ads for US cryptocurrency trusts

Tech giant Google has updated its cryptocurrency-related advertising policy, allowing ads for cryptocurrency trusts from the end of January.

Cryptocurrency trusts are included as examples of “financial products that allow investors to trade shares of a trust that holds a significant amount of digital currency” — potentially including ETFs, Google said in a Dec. 6 policy change log.

“As a reminder, we expect all advertisers to comply with local laws in any region where their ads are targeted. This policy will apply globally to all accounts advertising these products,” Google added.

Potential crypto-trust advertisers must be certified by Google before they can run ads. Certification includes that advertisers have the appropriate licenses issued by the relevant local authorities and that “their products, landing pages, and ads must comply with all local legal requirements of the country or region in which they want to be certified.”

Google's full changelog for allowing crypto-trusted ads. Source: Google

Google already allows ads for some cryptocurrencies and related products, but excludes ads for gambling platforms based on cryptocurrencies or non-fungible tokens (NFTs), initial coin offerings, decentralized finance protocols, and services that provide trading signals.

The policy change comes as Bloomberg’s ETF analysts estimate a 90% chance that a U.S. spot bitcoin ETF will be approved by January 10, 2024, with the possibility of multiple pending applications being approved.

There are 13 Bitcoin ETF applicants, and public details about their approval process are scarce. Many fund managers, including BlackRock, Grayscale, and Fidelity, are reportedly betting on ETF approval recently. Bitcoin has risen nearly 74% in the past 90 days, and some analysts expect it to hit a record high in 2024.