REGULATION | Google to Allow Advertising for Cryptocurrency Shares and Trusts From February 2024

Starting January 29 2024, Google will permit advertisers to promote U.S. ads related to ‘Cryptocurrency Coin Trusts’ following an update to its crypto ad policy.

According to Google, these trusts are defined as ‘financial products that enable investors to trade shares in trusts holding substantial reserves of digital currency.’

As per reports, the updated policy will permit ‘crypto coin trusts to display ads targeting the United States, given that they undergo our certification process and willingly register with the SEC by filing Form 10-12g.’

Google clarified that crypto trusts refer to funds ‘solely invested in cryptocurrency, such as Bitcoin. These closed-end funds hold Bitcoins on behalf of investors, and the trading of their shares occurs over-the-counter.’

Google advertising rules can be a key indicator of market trends, considering during the last bull run the company similarly updated its policy letting wallets and exchanges place ads with Google.

Currently, Google’s policy permits advertisements for NFT games, businesses accepting cryptocurrencies, and licensed providers of cryptocurrency exchanges and wallets. However, the platform prohibits ads related to initial coin offerings (ICOs), gambling, and staking in NFT games.

Google has emphasized that crypto trusts are distinct from ETFs (Exchange-Traded Funds). They are exclusively available to investment companies, accredited investors, or high-net-worth individuals and are not accessible to the general public.

The revised policy from Google aligns with the eagerly anticipated and approved decision on spot bitcoin ETFs. The wording used by Google may imply that advertising for spot bitcoin ETFs could be permissible, contingent upon the approval of the 13 Bitcoin ETF applications by the U.S. Securities and Exchange Commission.