Canary Capital, a leading player in crypto asset management, has taken a significant step by filing for the launch of a groundbreaking ETF. By combining crypto and NFTs, this offering provides new opportunities for investors looking to tap into the dynamics of memecoins and NFTs.
Canary Capital has just filed an application with the SEC to launch a one-of-a-kind ETF. This investment vehicle will aim to replicate the performance of the PENGU memecoin, the governance of the Pudgy Penguins project, and a selection of their famous NFTs. A first in the crypto industry, this combined ETF marks a new milestone in integrating digital assets into the traditional market of exchange-traded funds.
$PENGU & Pudgy Penguin NFT ETF.
— Luca Netz
First of its kind.
Historypic.twitter.com/pFoD8LsnJI
(@LucaNetz) March 20, 2025
According to the filing terms, the ETF will hold PENGU directly, the native cryptocurrency of the project, along with a representative sample of the Pudgy Penguins collection. This could potentially drive its price up.
The goal is to provide investors with a simple way to access this rapidly expanding ecosystem in a single vehicle while benefiting from the traditional advantages of ETFs (liquidity, transparency, low fees).
Pudgy Penguins has quickly emerged as one of the most popular NFT collections in the market. Known for its playful art and dedicated community, the collection has garnered significant interest among collectors and blockchain enthusiasts.
The launch of the PENGU token last December, aimed at giving holders a voice in the project’s governance, has further boosted its appeal. Despite a drop of over 90% from its all-time high, the ETF filing announcement caused a brief price surge of around 20%.
Beyond PENGU, the direct inclusion of Pudgy Penguins NFTs in the ETF represents a major innovation. If approved, it will be the first time an exchange-traded fund physically holds this type of digital assets. By combining exposure to the PENGU token and Pudgy Penguins NFTs, the manager is offering a one-of-a-kind proposition.
Although the price surged after the announcement, PENGU holders took the opportunity to exit the market. Indeed, a bearish divergence in the 3H RSI can be observed, confirming the continued downtrend.
Furthermore, the Chaikin Money Flow dropped significantly after the announcement, confirming a capital outflow from the token. With a score of -0.4, PENGU is clearly lacking interest.
As a result, PENGU seems to be heading towards $0.0054, according to the Mean Reversion Channel, representing a drop of 12% from its current price of $0.00625. If it fails to hold this support, it could reach $0.0045, resulting in a drop of approximately 29%.
In the short term, PENGU absolutely must stay above $0.0054 to hope for a rebound later on. Monitoring volumes and the CMF will be crucial in determining if a rebound is possible.
You can purchase PENGU, the token of the Pudgy Penguins project based on Solana, on the Weex exchange. Here is a practical guide:
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
