U.S. SEC Postpones Decision on Canary Pudgy Penguins (PENGU) ETF as Investors Await Clarity
Jakarta, Pintu News – The Canary Pudgy Penguins ETF has been delayed again by the United States Securities and Exchange Commission (SEC).
The PENGU ETF issued by Canary Capital is unique as it aims to give investors exposure to the Solana meme coin, PENGU, as well as the Pudgy Penguins non-fungible token (NFT).
US SEC Delays Decision on PENGU Canary ETFs
Based on a notice dated January 7, the United States Securities and Exchange Commission (SEC) set an extension of time to decide whether to approve or reject the Canary PENGU ETF.
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“The Commission believes that it is necessary to establish a longer period for issuing an order approving or disapproving a proposed rule change, in order to have sufficient time to consider the proposed changes,” said a statement from the SEC.
This is the second extension in the evaluation process of the proposed rule change. Previously, in September, the SEC had started the process to determine whether the Canary PENGU ETF would be approved or rejected.
This ETF aims to hold the PENGU token as well as a portion of Pudgy Penguins’ NFT directly. The SEC has again extended the decision deadline by 60 days, making the next deadline March 11.
If approved, the Canary PENGU ETF will be listed and traded on the Cboe BZX Exchange. It should be noted that this time extension does not reflect the SEC’s stance on the proposal.
On the other hand, the launch of the PENGU ETF could potentially make the Pudgy Penguins meme coin the second meme coin to have an ETF in the US after Dogecoin. The only other meme coin ETF filing that currently exists is for the Trump Coin ETF.
Pudgy Penguins Price Potential to Rise Again?
PENGU’s price was down 6% as of January 8, 2026 and was trading at $0.0119. The lowest and highest prices in the last 24 hours were at $0.0117 and $0.0127 respectively.
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Additionally, trading volumes have decreased by more than 36% over the same period. On the daily time frame, the price is still above the 50-day moving average line (50-SMA), but below the 100-SMA and 200-SMA at the time of writing.
The Relative Strength Index (RSI) fell from 71 to 57 in the last 48 hours, indicating profit-taking by traders.
Data from CoinGlass shows buying activity in the derivatives market in recent hours. Open interest (OI) for the PENGU futures contract fell 2% to $112.32 million in the last 24 hours.
However, the OI for the PENGU futures contract on the 4-hour time frame saw gains: on Binance it rose by more than 0.65%, and on OKX it jumped by 3.35%. Meanwhile, on Bybit it edged down by 0.20%. Market participants are currently watching price movements closely amid the release of macroeconomic data from the US.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Coingape. Canary Pengu ETF Approval Delayed by US SEC. Accessed on January 9, 2026
