According to that, asset management funds from BlackRock to Grayscale have launched an online advertising campaign for Bitcoin ETF spot funds, as changes in Google’s advertising rules for cryptocurrency tools have emerged.
Google’s new advertising rules allow ads promoting “cryptocurrency coin signals” to appear alongside search results for queries like “bitcoin ETF.” They came into effect on January 29, just a few weeks after 10 asset management funds introduced bitcoin ETF funds on January 11.
Advertisements have appeared from management funds such as BlackRock, Fidelity, Grayscale, Invesco, and Bitwise promoting on-site bitcoin ETF funds as issuers try to present their products to as many potential customers as possible, especially retail investors.
Companies have intensified marketing and engaged in fierce competitive bidding, as every issuer of on-site bitcoin ETFs except Grayscale, which charges 1.5%, has either reduced or cut fees as their new products develop in terms of asset scale.
“A spokesperson for Invesco said: ‘We believe Google – among other search engines – is an integral part of our larger marketing strategy,'” responding to the company recently reducing the management fee for its bitcoin ETF fund from 0.39% to 0.25%.
Google declined to disclose ad spending figures for any bitcoin ETF ads, noting that costs vary as advertisers bid to place ads through the auction process. The search giant also allows ads for exchanges and cryptocurrency wallets but prohibits ads for initial token offerings and advertising efforts considered to “encourage buying, selling, or trading of cryptocurrencies or related products.”
