- Bitcoin’s price has climbed after its initial post-ETF slump.
- Google has approved cryptocurrency ads for Coin Trusts, marking yet another industry milestone.
- Major institutions like BlackRock and VanEck have already jumped on the Google ads bandwagon, with a marketing war potentially underway.
The immediate response to the approval of spot Bitcoin ETFs was a little underwhelming. While many predicted that BTC would burst through USD $50K (AUD $75K) on its way to the moon, the community was instead treated to a monthly low. However, the tides appear to be turning, with BTC up 8% on the week and bullish news starting to flow in.
Perhaps the biggest story is Google reversing its stance on cryptocurrency ads – for the first time ever, you can see digital asset funds being advertised on the search engine goliath.
Only Shares and Trusts Will be Supported
For now, the only crypto-related products that can be advertised on Google must meet a fairly strict criteria:
- Cryptocurrency Coin Trusts. Financial products that allow investors to trade shares in trusts holding large pools of digital currency.
The announcement was made in December 2023 (as the community geared up for spot ETF approval), but has only come live as the funds started trading. So far, several major institutions have jumped onto the marketing bandwagon, including BlackRock, VanEck and Franklin Templeton.
Google ads may not seem exciting, but considering the platform has captured over 90% of the search engine market share, it might just be the biggest marketing coup the industry has seen. The only question that remains is what’s next – the Superbowl?
You couldn’t put it past the “orange-pilled” CEO of BlackRock, Larry Fink, who has transformed from a certified Bitcoin hater into one of its biggest bulls.
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