Facebook and Instagram could soon permit spot ETF advertisements, said Nate Geraci, president of the ETF Store. Geraci recently made the observation that Facebook is the largest gathering place for baby boomers in a post on X.
Geraci cited an article by Wall Street Journal writer Patrick Coffee, who said that the American multinational technology holding corporation Alphabet has started to approve Bitcoin ETF marketing on its platforms.
A representative from Facebook’s parent company, Meta Platforms, has confirmed to Coffee that the business is revising its policy regarding the United States in response to the ruling by the Securities and Exchange Commission (SEC). He thus assumes that, similar to Alphabet, the social media giant would let Bitcoin ETF advertisements run on its platforms.
On January 10, the U.S. Securities and Exchange Commission (SEC) authorized eleven applications for spot Bitcoin exchange-traded funds (ETFs). Among these applicants were BlackRock, Ark Investments, Fidelity, Invesco, and VanEck. Authorized exchange-traded funds let investors have exposure to the biggest cryptocurrency in the world without actually owning any of it. There is a widespread belief among users that this development will have a positive impact on the cryptocurrency business.
Managing director and senior fintech analyst Andrew Bond of Rosenblatt Securities said shortly after the approval that this is a huge step forward for Bitcoin’s institutionalization. The majority of users saw the permission as a step toward the flagship cryptocurrency’s full integration into the traditional banking system.