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

The crypto asset manager Canary Capital has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a new non-fungible token-focused exchange-traded fund (ETF).

If approved, the “Canary PENGU ETF” will offer investors exposure to the Pudgy Penguins NFT project.

The ETF would invest directly in Pudgy Penguins NFTs and PENGU , the project’s utility token, and it would also hold other crypto assets, like Ethereum ( ETH ) and Solana ( SOL ), that “are necessary or incidental to the purchase, sale and transfer” of those first two types of tokens, per the filing .

The new S-1 statement represents the latest in a spree of recent ETF filings for Canary, which is also attempting to launch Solana , XRP ( XRP ), Sui ( SUI ), Litecoin ( LTC ), Axelar ( AXL ) and Hedera ( HBAR ) funds.

The SEC greenlit the first spot market Bitcoin ( BTC ) ETFs in January 2024, bringing in billions of dollars worth of inflows to the top digital asset by market cap. The regulator subsequently approved Ethereum ( ETH ) ETFs for trading last July. Two financial firms, Franklin Templeton and Hashdex, also launched joint BTC-ETH ETFs earlier this year.

PENGU is trading at $0.00655 at time of writing. The 165th-ranked crypto asset by market cap is down more than 2.5% in the past 24 hours.

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