The crypto community is pondering the potential impact on spot Bitcoin ETFs, given Google’s handling of 100,000 searches per second.
On Monday, Jan. 29, Google is set to update its policies to allow certain cryptocurrency products to be advertised on major search engines. Bitcoin exchange-traded funds (ETFs) appear likely to meet the criteria, sparking speculation within the crypto industry.
In December 2023, Cointelegraph reported that Google’s crypto and related ads policy will be revised on Jan. 29 to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
With the recent approval of 11 spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) on Jan. 10, investors purchasing shares in a spot Bitcoin ETF acquire a stake in the fund’s Bitcoin holdings. This aligns with Google’s updated requirements:
“Financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
Crypto analysts are optimistic about the potential inflows to Bitcoin ETFs, citing Google’s high transaction processing capacity in searches. According to recent data from DemandSage, Google processes 8.55 billion searches daily.
However, Google vaguely refers to the allowed products as “cryptocurrency coin trusts.”
Meanwhile, one of the largest Bitcoin trusts, the Grayscale Bitcoin Trust (GBTC), recently converted to a spot Bitcoin ETF as part of the several approved by the SEC on Jan. 10.
Previously, buying GBTC shares on the primary market was only available to accredited investors and subject to a six-month holding period.
Accredited investors must have a net worth of over $1 million or more than $200,000 in earned income over the previous two years. These rules are in place to protect potential investors with limited knowledge from risky investments that may result in them losing their funds.
However, spot Bitcoin ETFs are available to the general public in the United States. They are regulated under the Securities Act of 1933, making them a potentially safer option for Google to consider in advertising.
In August 2021, well-known cryptocurrency trader Michael van de Poppe was optimistic about the influence of Google ads on Bitcoin-related products, especially in light of the SEC chair exploring Bitcoin Futures ETFs, which were approved in October 2021.
Source: cointelegraph.com
