what's Canary PENGU ETF?
The Canary PENGU ETF is an actively managed exchange-traded fund sponsored by Canary Capital Group LLC, designed to provide capital appreciation through exposure to the Pudgy Penguins ecosystem. It primarily invests in PENGU, the governance and utility token of the Pudgy Penguins project, which powers community decisions, staking rewards, and interactions within the NFT collection's digital universe. The fund allocates approximately 80-95% of its assets to PENGU tokens, enabling investors to gain indirect access to the token's performance without direct custody. Complementing the token holdings, the ETF dedicates 5-15% to Pudgy Penguin non-fungible tokens (NFTs), selected by the sponsor based on factors like rarity, historical value, and liquidity. These NFTs originate from the Pudgy Penguins collection, a prominent Ethereum-based series known for its whimsical penguin avatars and community-driven storytelling. The fund may also hold supporting cryptocurrencies like ETH or SOL for operational purposes, such as transaction fees or liquidity management. As a bridge between traditional finance and Web3, the ETF aims to offer a regulated vehicle for institutional and retail investors to participate in meme-inspired crypto assets. Shares trade on exchanges like CBOE, subject to SEC approval, with the sponsor handling custody, valuation, and rebalancing to mitigate risks like volatility and illiquidity in NFT markets.
Canary Capital submitted an ETF application to the SEC for Canary PENGU ETF.
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x.com/canaryfundsCanary Capital submitted an ETF application to the SEC for Canary PENGU ETF.
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Canary Funds filed Form 8-A for its XRP ETF, set to launch tomorrow.
Form 8-A filed for XRP spot ETF, set to go effective Wednesday 5:30 PM ET after Nasdaq certification, with launch scheduled Thursday at market open.
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PENGU representatives attended back-to-back Wall Street events: NYSE for BSOL and Nasdaq market closing ceremony for the HBAR ETF listing.
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Canary files an amendment to its S-1 form for the Canary Marinade Solana ETF.
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Prospectus filing updated for Litecoin ETF with SEC final approval decision expected in first week of October.
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Marinade Finance implements tokenomics update with 50% buyback rate ($5M annually) and 25M MNDE voter rewards, while maintaining $2B+ TVL.
S-1 registration filed with SEC for staked INJ ETF product.
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SEC filing submitted for new CRO-based ETF product.
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SEC delays decision on spot LTC ETF application.