Crypto Asset Manager Canary Capital Continues ETF Application Spree with New Filing for Pudgy Penguins NFT Fund

The crypto asset supervisor Canary Capital has filed an S-1 registration assertion with the U.S. Securities and Trade Fee (SEC) for a brand new non-fungible token-focused exchange-traded fund (ETF).

If authorised, the “Canary PENGU ETF” will supply traders publicity to the Pudgy Penguins NFT undertaking.

The ETF would make investments instantly in Pudgy Penguins NFTs and PENGU, the undertaking’s utility token, and it will additionally maintain different crypto property, like Ethereum (ETH) and Solana (SOL), that “are vital or incidental to the acquisition, sale and switch” of these first two kinds of tokens, per the filing.

The brand new S-1 assertion represents the most recent in a spree of current ETF filings for Canary, which can be trying to launch Solana, XRP (XRP), Sui (SUI), Litecoin (LTC), Axelar (AXL) and Hedera (HBAR) funds.

The SEC greenlit the primary spot market Bitcoin (BTC) ETFs in January 2024, bringing in billions of {dollars} price of inflows to the highest digital asset by market cap. The regulator subsequently authorised Ethereum (ETH) ETFs for buying and selling final July. Two monetary companies, Franklin Templeton and Hashdex, additionally launched joint BTC-ETH ETFs earlier this yr.

PENGU is buying and selling at $0.00655 at time of writing. The One hundred and sixty fifth-ranked crypto asset by market cap is down greater than 2.5% up to now 24 hours.

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