Innovation in the crypto market: PENGU ETF seeks to revolutionize investments in NFTs

• Innovative PENGU ETF on the market.
• NFTs in ETFs in the US.
• Possible SEC approval.

Asset manager Canary Capital filed an application with the U.S. Securities and Exchange Commission (SEC) on March 20 to list an exchange-traded fund (ETF) for the PENGU token, the governance asset of the Pudgy Penguins NFTs project. The initiative, which is awaiting SEC approval, promises to be a milestone in the history of digital asset investments.

O Pudgy Penguins Project Pudgy Penguins is not just about collecting NFTs. It has also expanded its operations by launching its own cryptocurrency, PENGU, on the Solana network. Pudgy Penguins is a brand that originated in the web3 world, known for its focus on creativity and community. The project combines physical and digital elements, offering a variety of unique collectibles. Pudgy Penguins are a collection of digital avatars that have captured the attention of many NFT enthusiasts. They have also expanded into the production of toys, clothing, and other products.

The PENGU ETF, if approved by the SEC, will be the first in the United States to include NFTs in its portfolio. Canary Capital’s proposal goes beyond simple exposure to the PENGU token, seeking to incorporate a variety of NFTs from the Pudgy Penguins collection. This innovative approach opens up a new range of possibilities for investors interested in digital collectible assets.

“The Canary PENGU ETF is an exchange-traded product that issues shares of beneficial interest that are traded on the Exchange. The investment objective of the Trust is to provide capital appreciation. In seeking to achieve its investment objective, the Trust will invest in a portfolio consisting primarily of PENGU, the official token in the Pudgy Penguins project, and Pudgy Penguins non-fungible tokens (NFTs),” reads part of the document attached.

In addition to NFTs, according to the document, the PENGU ETF plans to include other digital assets in its portfolio, such as Solana and Ethereum. This strategic diversification aims to facilitate the purchase, sale and transfer of PENGU and Pudgy Penguins NFTs, optimizing the management of the fund.

The Trust will also hold other digital assets, such as SOL and ETH, that are necessary or incidental to the purchase, sale, and transfer of the Trust’s PENGU and Pudgy Penguins NFTs. Canary Capital Group LLC is the sponsor of the Trust, CSC Delaware Trust Company is the Trustee.

The SEC’s decision on the PENGU ETF could have a significant impact on the future of NFT investing. Approval of the PENGU ETF could cement NFTs as a legitimate asset class, attracting new investors and driving innovation in the cryptocurrency space.

At the time of publication, the price of PENGU was quoted at $0,006296 with a drop of 7.9% in the last 24 hours.