BlackRock and VanEck have launched advertising campaigns for their spot Bitcoin ETFs on Google as the previously announced update to their advertising policies took place today.
For the first time in five years, Google has opened up its extensive advertising network to certain crypto-related offerings, particularly the newly launched spot Bitcoin ETFs. This marks a notable change from the company's stance in March 2018, when it joined Facebook in banning cryptocurrency-related advertising. The ban was widely interpreted as a precautionary measure against the increasing number of scams in the crypto sector.
Bitcoin ETF Ads on Google
Back in December, Google announced that it would allow advertisers in the US to promote cryptocurrency coin trusts on its platform starting January 29th. The tech giant emphasizes compliance with local laws and emphasizes that all ads must comply with the legal requirements of the target locations. In South Africa, for example, advertising of crypto assets is required to explicitly state that these assets could result in a loss of funds.
The policy update could be an important step for the newly launched Bitcoin ETFs as it aims to increase the profile and visibility of these funds. Bitcoin ETFs recorded a net outflow of $500 million last week, the highest since their approval earlier this month.
So far, BlackRock and VanEck were the first to take advantage of Google's policy update. Still, it's safe to say that other firms will follow suit to give their latest investment product more visibility and exposure.
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