Meta has followed the footsteps of other platforms, such as Google and Facebook, and will soon be allowing spot Bitcoin ETF ads on Facebook and Instagram.
Major players in the tech industry have begun embracing the crypto markets, with products such as spot Bitcoin ETFs witnessing considerable interest over the past few weeks.
Bitcoin ETF Ads On Facebook And Meta
The possibility that platforms such as Facebook and Instagram might permit advertisements for spot Bitcoin ETFs was made in an observation by Nate Geraci, the president of ETF Store, who suggested that Facebook and Instagram could soon permit advertisements for spot Bitcoin exchange-traded funds. Geraci hints at a potential shift in the advertising policies of popular social media platforms. It is expected that platforms may open up to advertisements concerning ETFs in the near future.
“Alphabet began approving ads for Bitcoin ETF on its platforms, which include Google Search and YouTube, in the US following the Securities and Exchange Commission’s approval, according to a spokesperson. Facebook and Instagram may soon follow suit. Parent company Meta is currently updating its US policies in light of the Securities and Exchange Commission’s decision.”
Facebook Could Play Crucial Role
Geraci called Facebook a “Boomer Honeypot,” hinting that the platform’s user base, which consists of a significant percentage of older users, could play a crucial role in broadening the reach of the spot Bitcoin ETF advertisements.
“Facebook & Instagram may soon allow spot bitcoin ETF ads… No bigger boomer honeypot than Facebook.”
With the launch of spot Bitcoin ETFs and their interaction with the larger crypto ecosystem, top platforms embracing Bitcoin ETF ads mark a significant development for the crypto ecosystem. Additionally, Facebook and Instagram bring an interesting mix of demographics, with both platforms having a large user base of millennials and GenZ, who have a shared interest in crypto and the larger crypto ecosystem.
Recently, Google updated its advertising policy to permit select cryptocurrency finance products, including spot Bitcoin ETFs, to display sponsored links.
Meta Stock Surges
Meanwhile, Meta’s stock surged 20% on Friday following the company’s first dividend payout declaration. The company has authorized $50 billion for share buybacks and declared a quarterly dividend of 50 cents per share. The stock surge comes as Meta reported robust results and strong returns from investments in emerging technologies such as the metaverse.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/02/meta-to-allow-bitcoin-etf-ads-on-facebook-and-instagram