title: Canary Capital Files S-1 Registration Statement with the SEC for a New Non-Fungible Token-Focused Exchange-Traded Fund (ETF)

If approved, the “Canary PENGU ETF” will offer investors exposure to the Pudgy Penguins NFT project.

output: Canary Capital has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a new non-fungible token-focused exchange-traded fund (ETF).

The applied sciences and investment management firm is planning to launch an ETF that will offer investors exposure to the Pudgy Penguins NFT project. If approved, the “Canary PENGU ETF” will invest directly in the NFTs and also allocate some of its assets to the project’s utility token, PENGU.

The ETF would also hold other crypto assets, such as Ethereum (ETH) and Solana (SOL), that “are necessary or incidental to the purchase, sale and transfer” of those first two types of tokens, according to the filing.

The new S-1 statement is the latest in a spree of recent ETF filings for Canary, which is also attempting to launch Solana, XRP (XRP), Sui (SUI), Litecoin (LTC), Axelar (AXL) and Hedera (HBAR) funds.

The SEC greenlit the first spot market Bitcoin (BTC) ETFs in January 2024, bringing in billions of dollars worth of inflows to the top digital asset by market cap. The regulator subsequently approved Ethereum (ETH) ETFs for trading last July. Two financial firms, Franklin Templeton and Hashdex, also launched joint BTC-ETH ETFs earlier this year.

At time of writing, 165th-ranked crypto asset PENGU is trading at $0.00655. It is down more than 2.5% over the past 24 hours.