Canary Capital has taken a fresh step by filing with the U.S. SEC for an ETF that would track PENGU, the token linked to the Pudgy Penguins ecosystem. The proposal also includes holdings in Pudgy Penguins NFTs, alongside other digital assets like ETH and SOL.
The filing describes the ETF as a trust-based fund designed to reflect the value of the assets without requiring holders to manage wallets or custody themselves. It’s an attempt to bridge meme coin enthusiasm and traditional finance.
“Other non-security digital assets owned by the trust include SOL and ETH that may be necessary or incidental,”
the filing notes.
After the news surfaced, PENGU saw a 10% price jump in early trading and cracked through a key resistance zone. With RSI levels climbing to the low 60s, traders began eyeing the $0.0092 mark as the next potential breakout point.
Launched in December, PENGU has become more active on Solana trading platforms despite its Ethereum origins—leading some in the community to view it as a Solana memecoin in spirit.
Reactions to the ETF filing have been mixed. Some questioned the readiness of meme assets for regulated markets, especially with such short track records. Others welcomed the move as a sign of evolving demand.
“New ETFs for crypto assets have become an irrelevant joke,”
said analyst Alex Krüger, pointing to the lackluster inflows into recent launches.
Still, the filing marks another attempt to legitimize crypto’s quirkier corners—and whether it’s approved or not, it’s already sparked conversation.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
