- CBOE filed a 19b-4 kind for the Canary PENGU ETF, aiming to record a fund holding Solana-based meme coin PENGU and Pudgy Penguin NFTs.
- The fund will maintain 80–95% in PENGU and 5–15% in NFTs, with minimal ETH and SOL used strictly for transactions.
- PENGU is now solely the second meme coin with a proposed ETF, following Dogecoin, however Canary stays the only real agency pushing a PENGU product.
The CBOE has formally submitted its 19b-4 kind to the SEC to record and commerce the Canary PENGU ETF, marking a serious milestone in bringing meme coin investments to institutional buyers. This transfer follows Canary Capital’s earlier S-1 submitting and positions PENGU as solely the second meme coin ETF proposal after Dogecoin.
ETF Construction and Asset Allocation
Based on the submitting, the PENGU ETF will make investments primarily in PENGU tokens and Pudgy Penguin NFTs, allocating between 80% to 95% of its belongings to PENGU and 5% to fifteen% to NFTs. Nevertheless, Canary Capital clarified it goals to carry not less than 95% of the fund in simply these two belongings. Small parts of SOL and ETH will even be held to cowl transaction charges and NFT purchases, however solely as wanted, not for funding publicity.
As a result of PENGU operates on the Solana community and Pudgy Penguin NFTs reside on Ethereum, ETH and SOL will probably be used for public sale funds and gasoline charges associated to purchasing or promoting fund belongings. Nonetheless, the agency emphasised these holdings are purely operational.
Aggressive Panorama and SEC Approval Path
If permitted, the PENGU ETF will probably be a trailblazer in Solana-based meme coin publicity via a regulated funding automobile. At the moment, DOGE is the one different meme coin with a 19b-4 kind beneath SEC evaluation. Whereas a number of main companies—like Grayscale, Bitwise, and 21Shares—are racing to safe approval for DOGE ETFs, Canary Capital stands alone in its pursuit of PENGU.
The ETF not solely offers publicity to the meme coin but in addition faucets into NFT enthusiasm, merging two explosive sectors in a single funding product. The SEC’s determination on this progressive ETF might sign how open regulators are to broader meme asset adoption.