Google has begun to permit advertisements featuring U.S. spot cryptocurrency exchange-traded funds (ETFs) as of Jan. 29.
The company’s restricted financial products policy page now reads:
“Google allows ads promoting cryptocurrency coin trusts targeting the United States, as long as the advertiser has successfully registered under Section 12 of the Exchanges Act using form 10-12g. Reporting requirements … and any other local legal requirements must also be complied with. Advertisers must also be certified with Google.”
Third-party reports indicate that some asset managers have already begun to advertise their ETFs with Google. One X post from WatcherGuru shows that BlackRock and VanEck spot Bitcoin ETFs now appear as sponsored links in Google search results. Another post from BITCOINLFG® indicates that sponsored links for Franklin Templeton’s product appear in those results.
An update from December indicates that the policy takes effect today, Jan. 29, 2024, and has been planned for more than a month.
The same page defines crypto coin trusts as “financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
That definition clearly includes various spot Bitcoin ETFs that regulators approved on on Jan. 10. Additionally, because the definition does not name Bitcoin or any other particular cryptocurrency, it will presumably allow for ads related to spot Ethereum ETFs if such a fund gains approval in the coming months.
Google currently permits other crypto ads
Google largely banned cryptocurrency-related advertising circa 2018 but has gradually undone those restrictions in recent months and years.
In June 2021, the company updated its policy to permit ads for some crypto exchanges and wallets in the U.S. but maintained a ban on initial coin offerings (ICOs) and aggregation or comparison services. In July 2022, it extended similar rules permitting exchange and wallet advertisements internationally.
In August 2023, Google began to allow advertisements for blockchain-based NFT games that do not include gambling features. The company’s current policy also indicates that advertisements for hardware wallets are permitted.
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