Canary files for PENGU ETF

Published

5 months ago

March 20, 2025

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Canary files for PENGU ETF

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 18, Canary filed to list the first US ETF holding Sui (SUI), the native token of the Sui layer-1 blockchain network.

Policy reversal

The US Securities and Exchange Commission has acknowledged dozens of filings for new crypto investment products since US President Donald Trump took office on Jan. 20.

They include filings for proposed ETFs for native L1 tokens such as Solana (SOL) and XRP (XRP), as well as for memecoins such as Dogecoin (DOGE) and Official Trump (TRUMP).

Some industry analysts are skeptical that ETFs holding non-core cryptocurrencies will see a meaningful uptake among traditional investors.

“Pengu ETF announced. Price barely goes up. New ETFs for crypto assets have become an irrelevant joke,” crypto researcher Alex Krüger said in a March 20 post on the X platform. “Most crypto ETFs will fail to attract AUM and cost issuers money.”

Since starting his second presidential term, Trump has reversed the US government’s stance on digital assets, promising to make America “the world’s crypto capital.”

Under his predecessor, former US President Joe Biden, US regulatory agencies brought upward of 100 enforcement actions against crypto firms.

On March 20, asset manager Volatility Shares launched two Solana futures ETFs, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT).

They use financial derivatives to track SOL’s performance with one- and two-time leverage, respectively. Spot SOL ETFs are still awaiting regulatory approval.

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Politics

Japan’s finance minister endorses crypto as portfolio diversifier

Published

32 mins ago

August 25, 2025

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Japan’s finance minister endorses crypto as portfolio diversifier

Japan’s Finance Minister Katsunobu Kato said crypto deserves a spot in portfolios, while pledging to build a sound trading environment for the sector.

Politics

Grayscale seeks SEC approval for Spot Avalanche ETF under AVAX ticker

Published

1 hour ago

August 25, 2025

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Grayscale seeks SEC approval for Spot Avalanche ETF under AVAX ticker

The Avalanche ETF filing marks another step in Grayscale’s expanding suite of crypto investment products, following XRP and DOGE filings earlier this year.

Politics

Starmer facing mounting pressure over immigration as MP says far right ’emboldened’

Published

3 hours ago

August 25, 2025

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Starmer facing mounting pressure over immigration as MP says far right 'emboldened'

Sir Keir Starmer faces mounting pressure over the small boats crisis after protests outside asylum hotels continued over the bank holiday weekend.

A poll suggested that voters believe the prime minister is failing to grip the problem, despite his government setting out measures to speed up removals.

It comes as Green Party co-leader Carla Denyer warned that “the far right feels emboldened and validated” by other political parties.

So far this year a record 28,076 people have made the perilous journey across the English Channel in small boats, 46% more than in the same period in 2024.

Like many other European countries, immigration has increasingly become a flashpoint in recent years as the UK deals with an influx of people fleeing war-torn and poorer countries seeking a better life.

Official figures released earlier this month showed a total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.

There were 32,059 asylum seekers in UK hotels by the end of the same month.

Protests and counterprotests at sites housing asylum seekers continued over the weekend and the government is braced for further legal fights over the use of hotels.

A YouGov poll for The Times found that 71% per cent of voters believe Sir Keir is handling the asylum hotel issue badly, including 56% of Labour supporters.

The survey of 2,153 people carried out on August 20-21 found 37% of voters viewed immigration and asylum as the most important issue facing the country, ahead of 25% who said the economy and 7% who said the health service.

Ms Denyer, who is MP for Bristol Central, condemned threats of violence in the charged atmosphere around immigration.

“The far right feels emboldened and validated by other political parties dancing to their tune.

“The abuse I’ve been sent has got noticeably worse in the last few months, escalating in some cases to violent threats, which are reported to the police.

“It doesn’t matter how much you disagree with someone, threats of violence are never, ever OK. And they won’t silence me.”

Is it time for gunboats to help stop the people smugglers?

Jon Craig

Chief political correspondent

@joncraig

Curbing the power of judges in asylum cases to tackle the migrant hotel crisis is a typical Keir Starmer response to a problem.

The former director of public prosecutions would appear to see overhauling court procedures and the legal process as the answer to any tricky situation.

Yes, the proposed fast-track asylum appeals process is fine as far as it goes. But for a government confronted with a massive migrant crisis, opponents claim it’s mere tinkering.

And welcome and worthy as it is, it isn’t going to “smash the gangs”, stop the boats or act as a powerful deterrent to the people smugglers plying their trade in the Channel.