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Canary Capital applied for the PENGU ETF with CBOE
Canary Capital has filed a 19b-4 application with the CBOE to establish the PENGU ETF, which includes PENGU tokens and Pudgy Penguins NFTs. This is one of the first ETF funds to combine memecoin assets, marking an important step for institutional investors.
The PENGU ETF will allocate 80% to 95% of its assets to PENGU tokens, while 5% to 15% will be reserved for NFTs. A small portion of SOL and ETH will be held to cover transaction fees and purchase NFTs, but only when necessary.
PENGU operates on the Solana network, while the Pudgy Penguins NFTs are on Ethereum, so ETH and SOL will be necessary for auction payments and gas fees. This application attracts attention because only a few cryptocurrencies like BTC, SOL, XRP, and DOGE have reached this stage in the ETF process.