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 (SOL) 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.

Read also: 3 Meme Coins to Watch This Week – Are They About to Skyrocket?

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 (ETH) 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.

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 (DOGE), and the first to include NFTs in the process of formal filing with the SEC.

Meanwhile, the price of Pudgy Penguins (PENGU) 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.

Read also: Trump Media Set to Launch Bitcoin & Ethereum ETF on NYSE – Crypto Game Changer Incoming!

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.

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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*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. CBOE Files for Canary Pengu ETF with US SEC. Accessed on June 26, 2025

*Featured Image: Coin68