Canary Capital endeavors to agitate matters through submitting a request for an exchange-traded fund that blends matters alongside both non-fungible tokens and virtual currencies. Solana Co-Creator Anatoly Yakovenko Says Layer 2 Solutions are Unnecessary
Canary Capital aspires to introduce an exchange-traded fund that observes the Pudgy Penguins environment. This exchange-traded fund would incorporate the project’s oversight token, PENGU, including a collection of non-fungible tokens. Supposing that the Securities and Exchange Commission grants approval, it would represent the initial exchange-traded fund throughout the United States to directly possess non-fungible tokens.
The exchange-traded fund intends to retain PENGU tokens including Pudgy Penguins non-fungible tokens. It may additionally retain alternative virtual assets such as SOL including ETH to aid alongside dealings encompassing the fund’s primary properties.
PENGU, inaugurated throughout December, constitutes the oversight token regarding the Pudgy Penguins environment. It awards holders a voice within the project’s course. Pudgy Penguins is a prominent non-fungible token compilation, distinguished for its robust society including amusing artistry.
Since its commencement, PENGU has been recorded across platforms such as Robinhood, although its valuation hasn’t been consistent. It’s presently reduced beyond 90% from its maximum throughout December. The exchange-traded fund submission induced a momentary valuation surge, although it didn’t endure extensively.
Canary Capital has likewise registered for a spot exchange-traded fund associated with Sui, the inherent token of the Sui layer-1 system.
As of late, their Litecoin exchange-traded fund was cataloged across the Securities Depository & Clearing Corporation beneath the ticker LTCC.
The tempo of exchange-traded fund submissions has accelerated, notably including the Securities and Exchange Commission conceivably altering its posture beneath a fresh presidential duration.
In the past few weeks, the U.S. Securities and Exchange Commission has received a deluge of applications for alternative cryptocurrency ETFs, spanning from legitimate Layer 1 competitors such as Solana to riskier selections like Dogecoin and also the official Trump digital currency.
