Financial Times: Cryptocurrency ETF issuers like BlackRock have launched "cryptocurrency trust" ads on Google

2024-02-05 20:38:19

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ChainCatcher news, according to the Financial Times, asset management companies including BlackRock, Fidelity, Grayscale, Invesco, and Bitwise have been advertising on Google. Google's new marketing rules allow ads for "cryptocurrency trusts" to appear next to search results when searching for keywords like "Bitcoin ETF." These regulations took effect on January 29.

An Invesco spokesperson said, "We believe that Google, like other search engines, is an important part of our larger marketing strategy."

Google declined to disclose any advertising spending figures for Bitcoin ETF ad placements, noting that costs are variable due to advertisers bidding for ad placements through an auction process. The search giant also allows ads for cryptocurrency exchanges and wallets, but its rules prohibit advertising for initial coin offerings and marketing activities that are deemed to "promote the purchase, sale, or trading of cryptocurrencies or related products in other ways."

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