- Google recently updated its advertising policy to allow ads for certain cryptocurrency products like SEC-approved spot bitcoin ETFs. This signals a shift in Google’s previous complete ban on crypto ads.
- The policy change opens up major new possibilities for crypto companies to advertise on Google’s platforms and reach mainstream audiences. This will help drive greater awareness and adoption of crypto.
- It’s still unclear how broadly Google will interpret acceptable crypto ads under the new policy. But allowing reputable, regulated crypto products to advertise will likely accelerate mainstream adoption and trust in the crypto industry.
Google recently announced that it will be updating its advertising policies to allow certain cryptocurrency products to be advertised on its platforms. This change signals a shift in Google’s stance on crypto and opens up new possibilities for crypto and blockchain companies to reach wider audiences.
What Changed in Google’s Policy
Previously, Google had banned all cryptocurrency-related advertising on its platforms. But now, it will allow advertisements for “Cryptocurrency Coin Trusts” targeting the US.
While the updated language is still somewhat vague, this likely refers to cryptocurrency spot ETFs that have been approved by the SEC. For example, the Grayscale Bitcoin Trust (GBTC) recently converted into a spot bitcoin ETF after getting SEC approval.
Why This Matters
This policy update is significant given Google’s immense reach and influence. Crypto companies have been very limited in their ability to get the word out and drive adoption. Now Google’s platforms can help expose crypto to the mainstream.
The update comes right after several spot bitcoin ETFs launched in the US. Allowing these SEC-approved products to advertise could spur tremendous awareness and inflows into bitcoin ETFs. Currently, BlackRock‘s BITO bitcoin ETF is the largest with over $2 billion in AUM.
Looking Ahead
It remains to be seen how broadly Google will interpret acceptable cryptocurrency advertisements under the new policy. But this is a very positive development for the crypto industry in gaining more public visibility and trust. If more reputable crypto products can be advertised, it could accelerate mainstream adoption.
