Canary Capital has become the first asset manager to submit a fund traded by the exhibition that has both cryptocurrency and non-fungal tokens.
According to a March 20 submitCanary Capital is planning to follow an ETF -when following the Pudgy Penguins Ecosystem, combining exposure to the management of the project, Pengu (Pengu), together with a collection of its NFTs. It would also be the first ETF of the US to hold NFTs directly if it is approved.
The submission outlines that the Trust Spot Pengu and Pudgy will hold Penguins NFTs, with additional digital assets such as SOL (SOL) and ETH (ETH) contain “if necessary or incidental” for transactions with the primary interests of the fund.
With this, Canary tries to streamline operational needs, such as buying, selling or transferring assets within the trust.
Pudgy Penguins has become one of the most recognized NFT collections in space and it is known for its playful art and strong presence on the community. Pengu was launched in December as the management of the ecosystem, designed to give holders a say in the direction of the project.
Since the launch, Pengu has landed on platforms such as Robinhood, but the price has not been held it is currently more than 90% decrease compared to the all times in December. News about the ETF entering led to a short rally, but the winned within an hour.
In the meantime, the submission adds a notch to the growing list of Canary of Crypto ETF applications. Only a few days earlier, the company submitted paperwork for a place ETF bound to Sui, the native token of the Sui Layer-1 network.
Last month the Litecoin ETF was mentioned on the Depository Trust and Clearing Corporation under the Ticker LTCC.
The pace of ETF archives has been picked up across the board, especially since the SEC began to shift its position under the new term of President Donald Trump.
Dozens of Altcoin ETF proposals have hit the regulator’s office in recent weeks, ranging from serious L1 opportunities such as Solana (SOL) to more speculative picks such as Dogecoin and even official Trump (Trump).
