Google ends five-year ban on crypto ads as Bitcoin ETF becomes visible

BlackRock and VanEck have started advertising campaigns for its spot Bitcoin ETFs on Google, as its previously announced ad policy update took place today. 

For the first time in five years, Google has opened its extensive advertising network to specific crypto-related offerings, notably the newly introduced spot Bitcoin ETFs. This marks a notable change from the company’s stance in March 2018, when it, alongside Facebook, banned cryptocurrency-related advertisements. The ban was widely interpreted as a precaution against the increasing number of scams associated with the crypto sector.

Back in December, Google announced that it would allow advertisers in the U.S. to promote cryptocurrency coin trusts on its platform starting Jan. 29. The tech giant emphasizes compliance with local legislation, underscoring that all advertisements must adhere to the legal requirements of their targeted locations. For example, in South Africa, advertisements for crypto assets are mandated to explicitly warn that these assets could lead to a loss of funds. 

The policy update could be a major step for the newly launched Bitcoin ETFs, as it’s poised to bring more awareness and visibility into these funds. Bitcoin ETFs saw a net $500 million outflow last week, the highest since their approval earlier this month.

So far, BlackRock and VanEck have been the first to utilize Google’s policy update. Still, it’s safe to say that other firms will follow to bring more visibility and awareness to their latest investment product.