Wall Street Journal reporters revealed today that Meta is planning to allow advertisements related to Bitcoin ETFs on its platforms, Facebook and Instagram, in the near future. In addition, Nate Geraci, President of ETF Store, stated today that three out of the top five ETF issuers in the United States have not yet entered the Bitcoin spot ETF competition.
Background:
Google Ads updates “Cryptocurrency Advertising Policy”! Taiwan requires authorization from the Financial Supervisory Commission and the Securities and Futures Bureau for advertising.
Background Supplement:
Wall Street’s Resistance: Vanguard bans clients from trading Bitcoin spot ETFs: BTC is an immature asset with no intrinsic economic value.
Starting from January 29, 2024, Google, the technology giant, officially allows advertisements for “cryptocurrency trusts” in the United States. Several Bitcoin spot ETF issuers, including BlackRock, Fidelity VanEck, Franklin Templeton, and Grayscale, have successfully placed advertisements for “Bitcoin spot ETFs” on the Google platform. This is seen by the community as another milestone for Bitcoin’s adoption in Web2.
Following Google, under Alphabet, approving the placement of Bitcoin ETF advertisements on its US Google Search and YouTube platforms, Meta, the social media giant with a significant portion of its revenue coming from advertising, is reported to be interested in allowing advertisements related to Bitcoin ETFs on its platforms, Facebook and Instagram.
According to a spokesperson, Meta’s parent company is currently updating its advertising policy for the US region based on the decision of the Securities and Exchange Commission (SEC).
Further reading:
Google allows “Bitcoin spot ETF advertisements”! BlackRock, Fidelity, Grayscale have placed ads, Taiwan is not included.
Three out of the top five global ETF issuers have not joined the Bitcoin competition.
As traditional finance gradually embraces Bitcoin, Nate Geraci, President of consulting firm ETF Store, pointed out in a tweet today that three out of the top five ETF issuers have not yet entered the competition for Bitcoin spot ETFs. These three issuers are Vanguard, State Street, and Schwab, which together account for nearly 50% of the industry’s market share. However, Geraci believes that there will soon be changes.
Geraci commented on the three issuers that have not yet launched Bitcoin ETF products:
Vanguard announced last month that the company has no plans to launch Vanguard Bitcoin ETF or other cryptocurrency-related products. They also refuse to provide transaction services related to Bitcoin spot ETFs or other cryptocurrency products, including Bitcoin futures ETFs, which led to community resistance.
At the end of last month, Bloomberg ETF analyst Eric Balchunas also predicted that Charles Schwab, the largest online brokerage in the United States, will launch a low-fee (0.1%) Bitcoin spot ETF product in the coming months. Geraci also believes that it is a “definite event” for Charles Schwab to join the competition for Bitcoin spot ETFs.
Further reading:
Will Charles Schwab, the largest US brokerage, launch a Bitcoin spot ETF? With 30 million users and managing $7 trillion.
Related Reports
Morning Report of the Coin Market: BlackRock’s spot ETF “IBIT” exceeds GBTC in daily trading volume, Bitcoin rises to $43,400.
Wall Street’s Resistance: Vanguard bans clients from trading Bitcoin spot ETFs: BTC is an immature asset with no intrinsic economic value.
Real-time status of Bitcoin spot ETFs: Grayscale’s GBTC holdings fall below 500,000 and total trading volume reaches $25.9 billion, with 7 issuers offering zero fees to compete for the market.