Asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding Pengu (PENGU), the governance token of the Pudgy Penguins non-fungible token (NFT) project, US regulatory filings show.
The ETF is the latest in a slew of filings for new US investment products tied to spot cryptocurrencies, including altcoins and memecoins.
According to the filing, the ETF is intended to hold spot PENGU as well as various Pudgy Penguins NFTs. It would be the first US ETF to hold NFTs if approved.
Additionally, “[t]he Trust will also hold other digital assets, such as SOL and ETH, that are necessary or incidental to the purchase, sale and transfer of the Trust’s PENGU and Pudgy Penguins NFTs,” the filing said.
Launched in December, PUDGY has a roughly $438-million market capitalization as of March 20, according to CoinGecko.
On March