CBOE Just Filed for a Canary PENGU ETF – Is the SEC About to Approve the Next Big Crypto Fund?

Updated

June 26, 2025

Gambar CBOE Just Filed for a Canary PENGU ETF – Is the SEC About to Approve the Next Big Crypto Fund?

Jakarta, Pintu News – CBOE’s filing of a new ETF for Canary PENGU marks a new era in institutional investment in digital assets.

With a focus on the Solana meme coin and the Pudgy Penguin NFT, the initiative caught the attention of investors and market analysts.

CBOE Filing for PENGU ETF

CBOE recently filed a form 19b-4 with the United States SEC for the Canary PENGU ETF, which marks an important step in the process of authorizing ETFs focused on meme coins and NFTs.

This filing follows Canary Capital’s S-1 form filing two months earlier, which shows the seriousness of its efforts to bring meme coin-based financial products to the institutional market. The ETF is planned to hold between 80% to 95% of its assets in PENGU and 5% to 15% in NFT Pudgy Penguin.

Canary Capital, as the asset manager, indicated that most of the ETF’s assets will consist of PENGU and NFT Pudgy Penguin.

Since PENGU and NFTs operate on the Solana and Ethereum networks, asset management requires ownership of SOL and ETH to pay network fees. This includes the conversion of cash to ETH for the purchase of NFTs, which is generally done in auctions that use ETH.

Market Reaction and Impact

The ETF filing by CBOE has been positively welcomed by Igloo, the brand behind Pudgy Penguin NFTs, stating that this is a milestone in the institutional adoption of PENGU and Pudgy Penguins.

The @CBOE files the CANARY PENGU ETF 19b-4.

With this filing, the $PENGU and Pudgy Penguins NFTs ETF becomes only the second memecoin-style ETF, after DOGE, and first filing with NFTs to enter the @SECGov’s formal review process, joining coins such as BTC, SOL, XRP, and DOGE. pic.twitter.com/xtmHi6C8u8
— Igloo (@IglooInc) June 25, 2025

They emphasize that this is a big step in strengthening confidence in meme coins as a viable asset class in the eyes of institutional investors.

It becomes the second meme coin-focused ETF after Dogecoin , and the first to include NFTs in the process of formal filing with the SEC.

Meanwhile, the price of Pudgy Penguins showed a positive reaction to the news of the ETF filing, with a gain of almost 2% on June 25, briefly trading around $0.009832.

This shows that the market responded favorably to the news, indicating the potential for further growth as the filing process progresses and increased interest from investors.

Prospects and Challenges of Ratification

Although the filing has been made, it is still unclear whether the SEC will approve the PENGU ETF.

Analysts from Bloomberg, Eric Balchunas and James Seyffart, have not given any chance of approval considering this is the first 19b-4 filing for an ETF focused on meme coins and NFTs.

No 19b-4 yet ! I’m sure it’s coming soonish.
— James Seyffart (@JSeyff) June 20, 2025

The endorsement process will likely take time and face challenges, given the complexities and risks associated with digital assets such as meme coins and NFTs. However, this filing marks an important step in the evolution of cryptocurrency-related financial products.

With the growing interest in digital assets and the ever-growing innovation in the sector, this kind of ETF could pave the way for more similar products that may follow if this filing is successfully approved.

Overall, the filing of the PENGU ETF by the CBOE marks an important point in the recognition of digital assets in the eyes of institutional investors.

By combining meme coins and NFTs in one financial product, Canary Capital and the CBOE are potentially paving the way for further innovation in digital asset investing.

The market is now looking forward to the SEC’s decision, which will have a significant impact on the future of investing in meme coins and NFTs.

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