Google, a leading search engine and tech company based in California, United States, is set to update its promotional policies while allowing certain crypto advertisements to be showcased on the browser.
The digital asset sector has speculated that the advertisements for investments in spot Bitcoin exchange-traded funds (ETFs) that were approved in the US on January 10 by the Securities and Exchange Commission (SEC) would most likely meet the criteria under the new policies of Google.
Google to Feature Spot BTC ETF Ads
It is important to note that Google said that it would bring updates to its cryptocurrency-related advertising policy to allow ads about digital asset trusts by the end of January. The firm is set to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”
The crypto enthusiasts on social media platform X (formerly known as Twitter) shared their excitement, stating that the revision of policies would bring “unprecedented levels of institutional and retail exposure” for the digital asset sector.
Aligning with Updated Requirements
Eleven spot Bitcoin ETF applications from firms like BlackRock, Grayscale, Bitwise, and Fidelity were approved by the SEC in early January, and billions in trading volume were recorded on the first day. Interestingly, this aligns with the updated requirements provided by Google:
“Financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
High Transaction Processing Capacity of Google
Digital asset enthusiasts and analysts are optimistic about the potential inflows of Bitcoin ETFs while highlighting the high transaction processing capacity of Google in searches. It is important to note that, as per data from DemandSage, the search engine giant processes 8.55 billion searches per day.
On the other hand, Google has kept the allowed products vague in the advertisement for “cryptocurrency coin trusts.” Notably, one of the leading Bitcoin trusts, Grayscale, got its BTC ETF application approved by the SEC earlier this month following a lawsuit.
Exploring the Digital Asset Sector
In October 2023, global Google searches for “buy Bitcoin” saw a significant surge of over 800% amidst a major cryptocurrency rally. On the other hand, the tech giant has also increased its exposure to digital asset companies and blockchains.
The company’s cloud computing business, Google Cloud, announced the fact that it is operating a validator on the Solana blockchain, boosting the price of the SOL token. Further, the company also announced a partnership with the largest exchange in the US, Coinbase, to let select users pay for its cloud services with cryptocurrencies.