Crypto Quill

Starting from January 29, 2024, Google will allow certain cryptocurrency products to be advertised on its main search platforms, reaching billions of people and companies around the world. This is a significant move for the crypto industry, as it reflects the growing adoption and acceptance of digital assets.

Google Updates Policies to Allow Crypto ETFs

According to a policy change log posted on December 6, 2023, Google will update its crypto and related products ad policy on January 29, 2024, to allow ads from “advertisers offering Cryptocurrency Coin Trust targeting the United States.”

This means that Bitcoin exchange-traded funds (ETFs), which are regulated investment products that track the price of Bitcoin, will be able to advertise on Google’s platforms, such as Google Search, YouTube, and Gmail. This will increase the exposure and awareness of Bitcoin and other cryptocurrencies to a wider audience, potentially boosting the demand and adoption of these assets.

Crypto Experts Optimistic about New Bitcoin ETF Listings

The crypto community has welcomed Google’s policy update, as it signals a positive shift in the attitude and perception of the tech giant towards cryptocurrencies. Google had previously banned all crypto-related ads in June 2018, citing concerns over consumer protection and fraud prevention. However, it later relaxed some of the restrictions in September 2018, allowing regulated crypto exchanges and wallets to advertise in the US and Japan.

Crypto experts are optimistic about the impact of Google’s new policy on the crypto market, especially after the US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs on January 10, 2024. These ETFs allow investors to buy and sell shares that represent the actual Bitcoin held by the fund, unlike the previous Bitcoin futures ETFs that track the price of Bitcoin futures contracts.

Reports are circulating about Google changing its policy to allow Bitcoin ETF ads as of January 29, 2024.Google processes 100,000 searches per second, which means that millions of people will be exposed to Bitcoin ETF ads every day. This could lead to more institutional and retail investors entering the crypto space, driving up the demand and price of Bitcoin and other cryptocurrencies.

Bitcoin Price Contention Persists for $40,000

Despite the positive news from Google and the SEC, Bitcoin price has been struggling to break above the $40,000 resistance level, as it faces selling pressure from profit-taking and regulatory uncertainty. Bitcoin is currently trading at around $38,500, down 3% in the past 24 hours, according to CoinMarketCap.

However, some analysts believe that Bitcoin is in a consolidation phase, and that it will soon resume its upward trend, as more investors realize the potential and value of the leading cryptocurrency. Some of the bullish factors that could support Bitcoin’s growth include the increasing adoption of Bitcoin as a legal tender in some countries, such as El Salvador and Panama, the growing interest and involvement of institutional investors and corporations, such as MicroStrategy and Tesla, and the innovation and development of the crypto ecosystem, such as the Lightning Network and DeFi.

Google’s new policy to allow Bitcoin ETF ads is another milestone for the crypto industry, as it shows that one of the world’s largest and most influential tech companies is embracing and supporting the future of finance. This could have a positive impact on the crypto market, as more people and companies become aware and interested in the benefits and opportunities of cryptocurrencies.