Google has ended its five-year ban on crypto-related advertisements, allowing specific offerings, particularly spot Bitcoin exchange-traded funds (ETFs), to be promoted on its extensive advertising network. This decision represents a departure from Google's 2018 stance, when it, alongside Facebook, implemented a ban on cryptocurrency-related ads as a precautionary measure against the rising number of scams in the crypto sector. The recent policy update, effective from January 29, emphasizes compliance with local legislation, requiring all advertisements to adhere to the legal requirements of their targeted regions.
Google's move is expected to significantly impact the newly launched Bitcoin ETFs, bringing heightened awareness and visibility to these funds. Notably, BlackRock and VanEck have already capitalized on Google's policy update, with other firms anticipated to follow suit to enhance the visibility and awareness of their respective investment products. This shift in advertising policy comes at a time when Bitcoin ETFs experienced a net outflow of $500 million last week, marking the highest since their approval earlier this month. The move aligns with Google's commitment to adapt its policies to the evolving landscape of the cryptocurrency market while ensuring adherence to regulatory standards globally.
