Given Google’s capacity to handle 100,000 queries per second, the crypto industry is considering the possible impact on spot Bitcoin ETFs.
On Monday, Jan. 29, Google is set to update its policies to allow certain cryptocurrency products to be advertised on major search engines. Bitcoin https://cointelegraph.com/bitcoin-price exchange-traded funds (ETFs) appear likely to meet the criteria, sparking speculation within the crypto industry.
Reports are circulating that Google will be changing their policy and allowing #Bitcoin ETF ads starting on Jan 29th.
— The ₿itcoin Therapist (@TheBTCTherapist) January 25, 2024
Google processes 100K searches/sec 🤯
Bitcoin is going to have unprecedented levels of institutional and retail exposure.
Prepare accordingly
The United States Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs on January 10, giving investors a stake in the fund’s Bitcoin holdings. This is consistent with Google’s new requirements:
“Financial products that allow investors to trade shares in trusts holding large pools of digital currency.”
Crypto experts are bullish on the prospective inflows into Bitcoin ETFs, noting Google’s high transaction processing capacity in searches. According to DemandSage statistics, Google handles 8.55 billion queries every day.
However, Google loosely refers to the permitted items as “cryptocurrency coin trusts.” Meanwhile, one of the largest Bitcoin trusts, the Grayscale Bitcoin Trust (GBTC), recently converted to a spot Bitcoin ETF, one of four approved by the SEC on January 10. Previously, only accredited investors could acquire GBTC shares on the primary market, with a six-month holding period.
Accredited investors must have a net worth of more than $1 million or earn more than $200,000 in the previous two years. These restrictions are in place to safeguard potential investors with inadequate expertise from dangerous investments that might result in the loss of their assets.
However, spot Bitcoin ETFs are now available to the general public in the United States. They are governed by the Securities Act of 1933, making them a potentially safer alternative for Google to use in advertising.
In August 2021, well-known cryptocurrency trader Michael van de Poppe expressed optimism about the impact of Google advertisements on Bitcoin-related goods, particularly in light of the SEC chair’s investigation into Bitcoin Futures ETFs, which were authorized in October 2021.
SEC Chairman is open to a #Bitcoin ETF.
— Michaël van de Poppe (@CryptoMichNL) August 3, 2021
After Google opens up for ads for #Bitcoin, this is another bullish one.
A massive one.
Bullish.
Stay tuned for more.
