Google updates its crypto ad policy ahead of possible bitcoin ETF approvals

Google’s newest crypto ad policy targets products where investors can “trade shares in trusts” holding crypto

article-image

Asif Islam/Shutterstock modified by Blockworks

share

Google has announced an update to its crypto ad policy.

The update will allow advertisers to offer US ads for “Cryptocurrency Coin Trusts” starting Jan. 29 of next year. 

Google defines the trusts as “financial products that allow investors to trade shares in trusts holding large pools of digital currency.”

In an email to Blockworks, Google said that the new policy will allow “crypto coin trusts to serve ads targeting the United States provided they complete our certification process and have voluntarily registered with the SEC by filing Form 10-12g.”

Google further said that crypto trusts are funds “that only invests in cryptocurrency, such as Bitcoin. These funds are closed-end. They own bitcoins for investors, and their shares are traded over-the-counter.”

Right now, Google’s policy allows ads for NFT games, companies that accept crypto and licensed providers of crypto exchanges and wallets. 

Initial coin offerings (ICOs), gambling ads and staking NFT games are prohibited. 

Back in September, Google loosened its policy around NFT game ads with the above exceptions.

Google clarified that crypto trusts are not ETFs, and are “only available to investment companies, accredited investors or high-net-worth individuals and are not accessible to the general public.  

The updated policy coincides with the much-awaited ruling on spot bitcoin ETFs.

The language used by Google could suggest that spot bitcoin ETF advertising is allowed, if the US Securities and Exchange Commission gives the 13 bitcoin ETF applications a green light.

Read more: Lucky 13? Where spot bitcoin ETF proposals stand ahead of judgment day

The timeline, as set out by ETF analysts, targets a period in early January for an SEC decision, with some eyeing the multitude of conversations being held by the regulatory agency and the ETF hopefuls as a sign that the Commission is inclined to approve applicants. 

BlackRock, Ark, Fidelity, and Franklin Templeton are among those aiming to get funds out the door. BlackRock’s entrance into the race boosted the possibility of a bitcoin ETF getting approved since the asset manager has a nearly perfect record of launching its funds. 

Bloomberg analyst James Seyffart expects the window for a possible approval to be between Jan. 5 to Jan. 10, with potential approvals coming in the last three days. Part of the reasoning is due to the SEC’s deadline to decide on the proposal put forth by Ark and 21Shares. 

The SEC recently initiated Franklin Templeton’s comment period earlier than expected, prompting avid ETF watchers to see it as a hopeful sign.

Updated Dec. 11, 2023 at 3:10 pm ET: Added comments from Google.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

kamino cover.jpg

Research

Kamino has solidified its position as the leading money market on Solana and is emerging as a DeFi bluechip. Although DeFi competition is fierce, Kamino has kept iterating on its product to provide the best-in-class UX, paired with a robust risk management framework and battle-tested infrastructure. Given the rollout of Kamino Lend V2, the protocol may scale aggressively over the coming months, penetrating previously untapped markets in Solana DeFi.

article-image

MSTR’s stock price was roughly $248 at 2 pm ET Thursday

article-image

Ever since rates came off zero and fiscal deficits exploded, markets have started paying close attention to how the government is funding itself

article-image

Solana memecoins are collectively at an all-time high

article-image

Optimistic rollups like Optimism, Arbitrum and Base are seeing rapid adoption relative to zk rollups

article-image

Coinbase’s final total for Q3: $331 billion, the equivalent of 15% of the total crypto market cap at the time

article-image

T. Rowe Price’s technology ETF invests in companies across the hardware, software, internet and payments segments