Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-maintains-its-ground-while-vaneck-faces-sec-penalty-over-etf-launch">Bitcoin Maintains Its Ground While VanEck Faces SEC Penalty Over ETF Launch</a><br></p>
<p style="text-align: justify"> In a recent development that has caught the attention of the investment world, the <a href="https://en.bitcoinhaber.net/crypto-market-plunges-a-summary-of-the-recent-turbulence">Bitcoin</a> market demonstrated resilience, with prices stabilizing above the $51,800 benchmark. This steady performance has emboldened investors, particularly in light of the Securities and Exchange Commission (SEC) imposing a penalty on VanEck Associates Corporation, a notable spot Bitcoin ETF issuer. </p> 
<h2 id="enforcement-action-by-the-sec">Enforcement Action by the SEC</h2> 
<p style="text-align: justify"> The SEC’s enforcement action comes after an investigation into VanEck’s failure to properly disclose the involvement of a social media personality in the advertising strategy for their ETF. Subsequently, VanEck has agreed to a settlement amounting to $1.75 million. The SEC discovered that the company neglected to inform the ETF’s board about the influencer’s role and the specific fee structure tied to the fund’s growth, which would increase the management fee percentage awarded to the index provider. </p> 
<h2 id="implications-for-bitcoin-and-altcoins">Implications for Bitcoin and Altcoins</h2> 
<p style="text-align: justify"> Despite VanEck’s predicament, the Bitcoin market appears largely unaffected, experiencing only minor fluctuations. However, the altcoin sector is starting to display signs of potential sales activity as the weekend approaches, hinting at possible profit-taking due to traditionally lower trading volumes during this period. Investors remain cautious, preparing for any significant market movements that might ensue. </p> 
<p style="text-align: justify"> Should investors commence profit-taking over the weekend, this could trigger an anticipated intermediate correction, especially relevant in a market with reduced liquidity. Such a scenario might lead altcoins to seek out lower support levels before finding stability. </p> 
<p style="text-align: justify"> Market watchers are keeping a close eye on these developments, recognizing that the SEC’s regulatory actions and the market’s subsequent reaction are critical indicators of the investment landscape’s current dynamics.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-maintains-its-ground-while-vaneck-faces-sec-penalty-over-etf-launch">Bitcoin Maintains Its Ground While VanEck Faces SEC Penalty Over ETF Launch</a></h5>

Bitcoin Maintains Its Ground While VanEck Faces SEC Penalty Over ETF Launch

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