Table content
## Canary Capital Requests ETF, PENGU Value Increases
The asset management enterprise Canary Capital has formally presented a request to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) created to monitor PENGU, the governance token of the well-known non-fungible token (NFT) project Pudgy Penguins.
Canary Capital intends to permit investors to get to a collection of digital assets through conventional brokerage accounts, getting rid of the risks and obstacles linked to directly acquiring and having these assets, according to the request. The trust additionally proposes to possess other digital assets, like ETH and SOL, that are directly or indirectly associated to PENGU tokens or Puggy Penguins NFTs. If approved by the SEC, this would make it the first ETF in the United States to possess NFTs, providing regulated institutional investors with access to this emerging asset class. The request, submitted on March 20, 2025, proposes to possess both spot PENGU tokens and Puggy Penguins NFTs.
## Market Responds Powerfully, PENGU Value Skyrockets
The value of the PENGU token increased significantly following the declaration of the ETF request, with trading volumes on major cryptocurrency exchanges additionally increasing, reflecting strong initial investor excitement. However, these gains were later removed because of the ongoing market decrease.
To date, Bitcoin and Ethereum are the only two digital assets for which the U.S. Securities and Exchange Commission (SEC) has approved ETFs.
As U.Today reported, a number of asset management enterprises have recently submitted ETF requests for SOL, XRP, and other cryptocurrencies. The PENGU token was launched on Solana in December 2025, primarily airdropped to Pudgy Penguins NFT holders, as well as members of the Ethereum and Solana communities, and other specific groups.
If the PENGUs exchange-traded fund receives approval, it could drastically transform non-fungible tokens and virtual collectibles. These holdings have had difficulty obtaining endorsement from large-scale institutional shareholders, impeding their acknowledgement as a valid type of asset. This sanction may be precisely the advancement they require.
