Skip to content
NewsBitcoinGoogle

Even Google is Promoting Crypto ETFs With New Ad Rules

Google is jumping on the Crypto ETF hype train by milking ads.

Image: Solen Feyissa / Unsplash & Blockhead

Table of Contents

With impending crypto ETFs being all the rage, even the world's biggest tech titan, Google, is experiencing FOMO. Cashing in on the hype, Google's new rules will allow adverts for crypto ETFs in the new year.

Effective from 29 January 2024, the update permits Cryptocurrency Coin Trusts to advertise on Google. However, direct promotions such as purchases, holding or swapping are prohibited. Ads for ICOs, DeFi trading protocols and other crypto ventures are also not allowed.

Examples of Cryptocurrency Coin Trusts are "financial products that allow investors to trade shares in trusts holding large pools of digital currency," according to Google.

Other crypto businesses that fall under this parameter include:

  • Educational content on crypto
  • NFT-based games and platforms
  • Crypto hardware wallets

Currently, 13 applicants are awaiting approval for their Bitcoin ETFs. Bloomberg predicts a 90% chance of approval by 10 January 2024.

Crypto ETF Recap

BlackRock set the ball rolling with its Bitcoin ETF application back in June, with the likes of WisdomTree, Invesco, Fidelity, Valkyrie Digital and ARK Invest following suit.

Anticipation of these Bitcoin ETFs has been a driving factor of Bitcoin's recent price surge.  As Gemini co-founder Tyler Winklevoss told Blockhead, "[Crypto ETFs] are going to bring a ton of liquidity and price discovery."

“No Path Forward in the US”: Winklevoss Twins Hold Nothing Back Against Regulators
From Zuckerberg to DCG, Cameron and Tyler Winklevoss aren’t the type to shy away from a fight. Could the SEC be next on their radar? Blockhead sat down with the twins to find out.

"We have many institutional customers, and they range from proprietary trading firms to large macro hedge funds," he continued. "And I think we're going to see 10x that once ETFs arrive."

In a recent interview, Bitwise Asset Management's chief investment officer, Matt Hougan said crypto ETFs are not yet baked into Bitcoin's price.

"It’s not at all priced in because the people who are going to buy this ETF are not aware that it’s coming or most likely coming; the majority of advisors who are the natural audience for this ETF don’t expect it to come until 2025 or later,” he said.

Buy the Bitcoin, Sell the News: ETF Edition
The SEC’s “window” for approving Bitcoin ETFs is officially open but is it too late to buy Bitcoin? Also, BitMEX’s Arthur Hayes calls US Treasury Secretary Janet Yellen a “bad gurl,” Bitdeer partners NVIDIA, CoKeeps becomes the first Malaysian DAC, and Celsius is cleared to exit bankruptcy.

JP Morgan has taken a rather different view, stating the crypto rally was already "overdone" last month.

"First, instead of fresh capital entering the crypto industry to be invested in the newly-approved ETFs, we see as a more likely scenario existing capital shifting from existing bitcoin products such as the Grayscale bitcoin trust, bitcoin futures ETFs and publicly listed bitcoin mining companies, into the newly-approved spot Bitcoin ETFs," the JP Morgan analysts said.

 JP Morgan CEO Jamie Dimon also laid heavily into crypto, “I’ve always been deeply opposed to crypto, Bitcoin, etc.,” Dimon said last week. “If I was the government, I’d close it down.”

“The true use case for it [crypto] is criminals, drug traffickers, money laundering, tax avoidance,” Dimon added.

JP Morgan CEO Jamie Dimon Wants to ‘Close Down Bitcoin’ - ETF FOMO?
JP Morgan CEO Jamie Dimon wants to close down Bitcoin but is his disdain just FOMO as his TradFi peers ape in?

Latest

What is the Fair Value of Bitcoin?

What is the Fair Value of Bitcoin?

According to two staff members of the European Central Bank, Bitcoin is still a harmful phenomenon with no inherent worth, even if it has been approved as an asset to be included in ETFs in the US. The OG cryptocurrency just crossed its two-year high today, sitting at $56,287

ETF Hype Pushes Ether to 2-Year Highs

ETF Hype Pushes Ether to 2-Year Highs

Anticipation for US spot crypto ETFs shifts focus to Ethereum, with investors eyeing Ether's outperformance over Bitcoin amid rising demand and potential legal challenges, despite regulatory hesitations and concerns over ecosystem centralization.