en.bitcoinsistemi.com
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.