Canary Capital Files to Launch Pudgy Penguins (PENGU) and NFT-Tracking ETF

Canary Capital has submitted a filing to the United States Securities and Exchange Commission (SEC) for the creation of an ETF that will track PENGU

Canary Capital has submitted an S-1 form to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that will track both PENGU, the governance token for the Pudgy Penguin ecosystem, and Pudgy Penguin NFTs.

The ETF, which will also hold Solana (SOL) and Ethereum (ETH) to facilitate transactions, is set to become the first of its kind to combine NFTs with cryptocurrencies in its portfolio.

According to the S-1, the ETF will operate as a trust, with 80% to 95% of its net assets invested in PENGU tokens and 5% to 15% in NFTs.

Canary Capital will select the NFTs for the ETF based on several factors, including price, rarity, desirability, and the overall value of the collection.

The filing comes just days after Canary Capital revealed that it applied for regulatory approval to launch an ETF tied to the spot price of Sui (WAGI), a cryptocurrency linked to Sui Network.

Igloo, the parent company of Pudgy Penguins, expressed enthusiasm for the proposed ETF, stating, "We are thrilled to have both $PENGU and Pudgy Penguins included in this new and innovative filing that aims to push the boundaries of crypto and ETFs."

"We believe that Pudgy Penguins is the face of crypto, showcasing innovation and the mass adoption of blockchain technology," Igloo added.

Today, $PENGU and Pudgy Penguins NFTs were included in an ETF filing by Canary Capital.

We are ecstatic to have both $PENGU and Pudgy Penguins included in this new and innovative filing by Canary Capital as they apply to launch a unique ETF.

The stellar team at Canary Capital is aiming to push the boundaries of crypto and ETFs with this new offering, which will invest in a basket of cryptoassets, NFTs and other digital assets.

Canary Capital also plans to include up to 15% of the ETF’s net assets in NFTs, which will be selected by Canary Capital based on the price, rarity, desirability and value of the NFTs and the NFTs’ respective collections.

We are huge fans of the work that the team at Canary Capital does and we wish them the best of luck in getting this ETF approved quickly.

Pudgy Penguins holders have come out in their masses to support the ETF. One fan said, “$PENGU & Pudgy Penguin NFT ETF. First of its kind. History .” Another said, “$PENGU and Pudgy Penguins NFT ETF. The world will embrace Pengu.”

Pengu and Pudgy Penguin NFT ETF. First of its kind. History 🫡

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The PENGU token, launched on the Solana chain in December 2024, distributes 25.9% of its 88.89 billion total supply to NFT holders in an ongoing airdrop. The allocation of the airdrop tokens is based on the rarity of the NFTs.

The token started with a market cap of roughly $2.8 billion and is available for trading on major exchanges like Binance, Bybit, and OKX.

PENGU's price has been highly volatile. While it's up nearly 30% over the year, its value is more than 85% lower from January highs.

The Pudgy Penguin NFT collection, boasting 8,888 unique NFTs, saw its floor price cross the $100,000 mark to hit a new all-time high of 34 ETH (about $104,600) in December 2024. However, its price has since dropped to 9.74 ETH.

The post (S-1) Filing: Canary Capital Plans ETF With Pudgy Penguins NFT, SOL, ETH, and PENGU Tokens