- According to Nate Geraci, Facebook and Instagram may soon allow spot ETF ads.
- The ETF Store President thinks there is no bigger boomer honeypot than Facebook.
- Patrick Coffee reported that Alphabet has begun approving Bitcoin ETF ads on its platforms.
According to Nate Geraci, President of ETF Store, Facebook and Instagram may soon allow spot ETF ads. In a recent post on X (formerly Twitter), Geraci noted that there is no bigger boomer honeypot than Facebook.
Geraci referenced a report by Patrick Coffee, a Wall Street Journal reporter, who said that Alphabet, an American multinational technology conglomerate holding company, has begun approving Bitcoin ETF ads on its platforms. Alphabet’s platforms include Google Search and YouTube, and the company approved the Bitcoin ETF ads following the SEC’s approval.
Coffee also reported that a spokesman from Meta Platforms, Facebook’s parent company, confirmed that they are updating their U.S. policies in light of the SEC’s decision. Hence, he suspects the social media company would follow Alphabet and approve Bitcoin ETF ads on its platforms.
On January 10, the U.S. Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETF applications, including from BlackRock, Ark Investments, Fidelity, Invesco, and VanEck. The approved ETFs expose investors to the world’s largest cryptocurrency without holding it. Hence, many users believe the development would boost the crypto industry.
Shortly after the approval, Andrew Bond, managing director and senior fintech analyst at Rosenblatt Securities, noted that the approval is significantly positive for the institutionalization of Bitcoin as an asset class. Most users considered the approval an introduction of the flagship cryptocurrency into the mainstream financial ecosystem.
For many financial and digital assets industry players, the approval represents acceptance. Therefore, they can treat Bitcoin like other real-world assets, including advertising its products on regular platforms.
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