[NEWS] BlackRock and others start advertising Bitcoin spot ETF on Google following change in terms and conditions

It has been discovered that BlackRock and Grayscale are running ads on Google for the Bitcoin spot ETF approved last month. The Financial Times reported on the 5th.

Google had banned ads for cryptocurrencies and related products for about five years, but changed its terms and conditions on the 29th of last month to lift the ban.

In March 2018, Google, along with Facebook (now Meta), took a negative stance on cryptocurrencies and banned their ads. Google said this was "part of measures to prevent fraud related to the cryptocurrency sector."

Last December, Google announced that it would allow advertisers in the United States to promote cryptocurrency ETFs from January 29th. Google emphasized that "all ads must comply with the legal requirements of the target region" and called for compliance with the laws of each country.

For example, in South Africa, it is mandatory to clearly warn that cryptocurrency-related ads may pose a risk of losing your own funds.

The change in the terms and conditions and the launch of ads for Bitcoin spot ETFs may not only help to broaden understanding of Bitcoin itself, but also contribute to raising awareness of the funds that offer these.

Clarifying the promotion of cryptocurrency ETFs

The change in the terms and conditions was made following the SEC's (US Securities and Exchange Commission) approval of 11 Bitcoin spot ETFs on the 10th of last month. The main purpose is to clarify the promotion of cryptocurrency ETFs.

According to Google's terms and conditions, ads will be available for "financial products that allow investors to trade shares in trusts that hold large amounts of crypto assets." Bitcoin spot ETFs are in line with the rules in that investors can acquire shares without directly owning crypto assets. Therefore, ads that promote the purchase, sale, or trading of crypto assets are prohibited.

According to the Financial Times, in addition to BlackRock and Grayscale, Fidelity, Invesco, Bitwise, and others are also placing ads.

An Invesco spokesperson said, "We consider Google, among other search engines, to be an important part of our marketing strategy."

Reference:Financial Times
Image: Shutterstock

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