VanEck Fined $1.75 Million for Not Disclosing Influencer Ties to Social Media Stock ETF
• VanEck to pay $1.75M SEC fine for not disclosing influencer's role in launching BUZZ ETF • Influencer promoted fund launch but fee structure incentivizing influencer not disclosed • BUZZ ETF tracks stocks with high positive sentiment on social media and news • Influencer believed to be Barstool Sports' Dave Portnoy but not named by SEC • VanEck is major Bitcoin ETF issuer, has proposed spot Ethereum ETF