The US Securities Commission (SEC) approved 11 Spot Bitcoin ETFs, which was a milestone for the cryptocurrency industry. With record volumes reached in recent days, asset managers, promoters of these instruments, received new welcome news for their financial products.
The thing is Google introduced new changes in its advertising policies from which these companies will be able share advertising linked to Bitcoin spot ETFs.
The change, originally proposed on December 6, 2023, confirmed the changes to allow properly certified advertisers to promote the Bitcoin Spot ETF already in force in the US market.
Following the approval of the funds on January 10, Google indicated in its policies that advertisers who offer Trust Funds based on cryptocurrencies aimed at the United States will be able to “advertise those products and services, when they meet the following requirements and are certified by Google.”
Based on these new updated policies, financial products that allow investors to trade shares in trusts, “with significant amounts of digital currencies”, will be considered eligible to advertise.
Some of the main managers have already been in charge of advertising their ETFs independently, as in the case of Hashdex and Bitwisetwo of the 11 companies that saw their products approved by the US Securities and Exchange Commission (SEC) the 10th of January.
Google’s approach to NFTs
On the other hand, a Google’s recent approach the crypto sector involved Google Play Store, which already allows developers to incorporate digital assets and non-fungible tokens (NFT) into their applications, only if they clarify the presence of blockchain-based elements in the respective software.
Based on these measures, it is expected that grow exposure to Bitcoin ETFs in the coming weeks, given the promotion involved in advertising these products and that Google is the largest advertising network in the world, even larger than Meta (parent company of Facebook and Instagram), which occupies second place.
BlackRock’s Bitcoin ETF achieved this new record
Despite subsequent skepticism over the launch of spot Bitcoin ETFs and the cryptocurrency’s price correction, Blackrock’s exchange-traded fund was the first to reach US$2 billion in assets under management.
Since launch, BlackRock’s fund led its peers. In this sense, the status that the company has allowed it to stand out from the rest.
After silently devouring the staggering amount of 11,500 bitcoins in the first two days of the ETF, The asset manager now oversees a staggering 49,952 bitcoins, valued at an impressive $2 billion.
The Fidelity fund follows with US$1.8 billion in assets under management. Meanwhile, Grayscale’s Bitcoin Trust faced significant capital outflows in the same period for almost $5 billion.
Source: Ambito
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