BlackRock, VanEck, and Franklin Templeton compete to promote Bitcoin ETFs on Google Ads
Google now permits advertisements for certain crypto products under its updated policy.
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BlackRock, VanEck, and Franklin Templeton have launched advertising campaigns on Google for their spot Bitcoin exchange-traded funds (ETFs) today, a recent Google search reveals. This means that Google now displays advertisements from these three financial companies for queries like ‘spot Bitcoin ETF’ or ‘Bitcoin ETF.’
The advertising campaigns follow Google’s policy update, effective today, allowing advertisements for Crypto Coin Trust products in the US. While Google’s announcement about the permissible range of products remained nonspecific, it described them broadly as financial instruments enabling trading shares in funds holding substantial crypto assets. Experts suggest that this description encompasses the newly launched spot Bitcoin funds.
As the world’s leading search engine, Google’s policy change opens a vast avenue for ETF providers to engage with a more extensive and diverse user base. This strategic marketing could potentially accelerate the mainstream adoption of Bitcoin ETFs, which are seen as a bridge between traditional finance and crypto.
However, this development isn’t without its challenges. Voices within the crypto community have raised concerns about the potential misuse of the new policy. @NFT_Dreww.eth, an X user, expressed optimism and caution in light of this news.
“While this may mark a monumental moment in a movement forward for relieving unnecessary strict crypto policies, scammers will take advantage of this,” he tweeted.
He additionally emphasized the importance of staying vigilant, advising internet users to install ad blockers to safeguard against fraudulent websites that might slip through Google’s screening processes.