- The crypto market experiences a steady week, with a spotlight on Bitcoin ETFs and the upcoming BTC halving.
- Google’s new policy may boost Bitcoin ETFs, allowing for targeted advertising in the United States.
- BlackRock’s Bitcoin ETF surpasses $2 billion in assets under management, underscoring growing investor interest.
This article explores the latest developments in the world of Bitcoin ETFs, including potential advertising on Google and the implications of the upcoming Bitcoin halving for investors.
Market Overview: A Steady Week with ETH and BTC Trends
During a relatively calm week in the crypto markets, the Nasdaq Crypto Index (NCI) closed with a 2.5% correction, primarily driven by Ether’s (ETH) 8.8% decrease. In contrast, Bitcoin (BTC) saw a slight uptick of 0.3%. Following the approval of spot BTC ETFs in the US, ETH has lost much of its edge over BTC. The delay in SEC’s approval for spot ETH ETFs has dampened investor confidence, contributing to this trend.
Google to Advertise Bitcoin ETFs?
Speculation is rife that Google will start allowing specific cryptocurrency products, including BTC ETFs, to be advertised on its platform. This change in policy, expected to commence on Monday, could significantly impact the visibility and accessibility of cryptocurrency investments. The policy will enable ads from advertisers offering Cryptocurrency Coin Trust in the United States, thereby opening a major channel for promoting new investment products.
BlackRock’s Bitcoin ETF Achieves Milestone
U.S. Bitcoin ETFs continue to attract investor interest, with BlackRock’s ETF reaching a notable milestone of $2 billion in assets under management (AUM). This achievement, just two weeks after the launch of Bitcoin ETFs, signals a clear investor appetite for the largest crypto asset in the market today.
Anticipating Bitcoin’s Next Halving
The upcoming Bitcoin halving is less than three months away, expected on April 21, 2024. This event will halve the daily issuance of BTC from 900 to 450. As noted in our 2024 Crypto Investment Outlook, while the approval of spot ETFs in the US has likely caused a demand shock, the halving represents a significant supply shock. These factors combined could fuel a robust price performance for BTC in 2024 and beyond.
Conclusion
As the crypto market navigates through a period of steadiness, significant developments such as the introduction of Bitcoin ETFs, Google’s new advertising policy, and the upcoming BTC halving are shaping investor sentiment. These factors are poised to influence the trajectory of Bitcoin and the broader crypto market, potentially heralding a dynamic phase for cryptocurrency investments in 2024.
