President of the ETF Store, Nate Geraci has suggested a potential shift in advertising policies on Facebook and Instagram, particularly regarding Bitcoin ETFs. Geraci’s insights which were shared on X, hint at a significant change in how these social media platforms approach cryptocurrency-related ads.
This speculation arises following reports that Alphabet Inc, the parent company of Google and YouTube, has started approving Bitcoin ETF ads post-SEC approval. Geraci cited a Wall Street Journal reporter Patrick Coffee’s story stating that the American multinational technology conglomerate holding company had started approving Bitcoin ETF commercials.
Facebook & Instagram may soon allow spot bitcoin ETF ads…
No bigger boomer honeypot than Facebook.
— Nate Geraci (@NateGeraci) February 3, 2024
Thus, advertisers offering Cryptocurrency Coin Trust targeting the United States are permitted to run advertising on the company’s platform.
Impact of Bitcoin ETF Approval on Advertising Strategies
The recent approval by the Securities and Exchange Commission (SEC) of 11 spot Bitcoin ETF applications, including those from major investment firms like BlackRock, Ark Investments, and Fidelity, has sparked discussions about advertising strategies in the financial industry.
Some industry experts, including Andrew Bond, Managing Director and Senior Fintech Analyst at Rosenblatt Securities, highlight the positive implications of this approval for Bitcoin’s institutionalization as an asset class.
The host of CNBC’s Mad Money program, author, and American television personality Jim Cramer, on the other hand, thinks that bitcoin is essentially a “risky asset” and that gold is an asset class with non-speculative use cases.
This approval paves the way for potential advertising shifts on social media platforms like Facebook and Instagram.
Anticipated Changes in Bitcoin ETF Advertising
With the SEC’s decision to approve spot Bitcoin ETFs, industry stakeholders anticipate changes in advertising regulations and opportunities, particularly on social media platforms.
However, the Commodity Futures Trading Commission (CFTC) Chair, Rostin Behnam, has voiced concerns regarding the recently authorized spot Bitcoin exchange-traded funds (ETFs) in the US. He said that investors should be aware of the dangers associated with the clearance, just as there are risks associated with the absence of regulatory control in the digital asset market for investors placing money into spot BTC ETFs.
Facebook Spokesperson Confirms
A spokesperson from Meta Platforms, Facebook’s parent company, confirmed ongoing updates to their U.S. policies in response to the SEC’s decision, leading to speculation about the possibility of allowing Bitcoin ETF ads.
This potential shift buttresses the evolution of cryptocurrency advertising and its impact on mainstream adoption.