Big Tech Platforms Loosen Grip on Crypto Advertising - Latest cryptocurrency news

Big Tech Platforms Loosen Grip on Crypto Advertising

Several prominent social media companies have recently modified their advertising policies to be more accommodating toward cryptocurrencies. Google initiated this shift, and now Meta platforms such as Facebook and Instagram are following in similar footsteps. These changes are occurring as cryptocurrency becomes more widely accepted within mainstream markets and solidified by the U.S. SEC’s endorsement of Bitcoin spot ETFs.

Meta Welcomes Regulated Crypto Ads

Facebook and Instagram have announced their intention to permit advertising for cryptocurrency, specifically targeting Bitcoin ETFs, within a controlled framework. This adjustment in the policy is reflective of the growing integration of cryptocurrencies into conventional investment avenues. As a result, Meta’s expansive network, with its reach of nearly two billion active users monthly, is set to contribute significantly to the proliferation of Bitcoin ETFs in the market.

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The President of ETF Store, Nate Geraci, highlighted the strategic advantage of Facebook’s demographic makeup, particularly its appeal to older users who may be less versed in cryptocurrency investments. This demographic is seen as a key target for education and engagement in the burgeoning crypto space.

Google and Crypto: A New Direction

Google has also recently greenlit advertisements for select cryptocurrency products, including Bitcoin spot ETFs. This move is seen as endorsement of well-regulated and legally sanctioned investment products, which in turn aids in the legitimization of Bitcoin in the eyes of traditional investment communities. Despite the SEC’s stance on not approving Bitcoin itself, their approval of Bitcoin ETFs has had a considerable legitimizing effect.

Bitcoin spot ETFs have already demonstrated immense investment appeal, with substantial capital inflows shortly after their market debut. Notably, BlackRock’s IBIT and Fidelity’s FBTC have amassed billions in inflows, rapidly surpassing the $1 billion mark in assets under management and setting records as some of the fastest ETFs to achieve this milestone. This trend suggests a potential for even greater expansion in the near future.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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