BREAKING: Surprise Altcoin Gets Spot ETF Filing

Asset management firm Canary has filed a spot ETF S-1 application for the Pudgy Penguins (PENGU) memecoin in its official filing with the SEC.

The proposed Canary PENGU ETF would not only hold PENGU, but would also include other digital assets such as Solana (SOL) and Ethereum (ETH) deemed necessary for transactions related to the trust’s portfolio.

According to the filing, the trust will divide its assets into three groups:

• Portfolio Cryptocurrencies: PENGU, SOL and ETH.
• Portfolio NFTs: Pudgy Penguins NFTs.
• Portfolio Digital Assets: A combination of the above, excluding cash assets.

Canary’s filing highlights the speculative nature of PENGU, stating that there is no guaranteed benefit or continued appreciation. The trust also clarifies that ETF shareholders will not receive the rights or benefits of PENGU holders directly.

If approved, the Canary PENGU ETF would be the first financial product to blend memecoins with NFTs in an institutional investment vehicle.

*This is not investment advice.