Pudgy Penguins jumps 23% on ETF proposal linking crypto and NFT assets
2025-07-10 12:04:58
Main Idea
Pudgy Penguins (PENGU) surged 23.54% following the SEC's acknowledgment of a proposed ETF that would hold both PENGU tokens and Pudgy Penguins NFTs, marking a significant regulatory milestone for the meme coin.
Key Points
1. The proposed Canary PENGU ETF allocates 80–95% to PENGU tokens and 5–15% to Pudgy Penguins NFTs, with the SEC currently reviewing the application.
2. PENGU's price reached its highest level since January 2025 after the SEC's acknowledgment, making it the top daily gainer on CoinGecko.
3. The SEC has opened a 21-day public comment window for the PENGU ETF, which represents a rare combination of fungible and non-fungible blockchain assets.
4. No altcoin or meme coin ETF has been formally approved to date, but the PENGU filing is among the few under active SEC review.
5. PENGU's rally is seen as a potential test case for crypto ETFs beyond Bitcoin and Ethereum, with market watchers noting a bullish cup-and-handle formation in its price chart.
Description
Pudgy Penguins (PENGU) surged 23.54% to $0.018 on July 9, marking its highest value since January 2025. The rally followed a key regulatory milestone: the US Securities and Exchange Commission (SEC) officially acknowledged a proposed exchange-traded fund (ETF) that would hold both PENGU tokens and Pudgy Penguins non-fungible tokens (NFTs). The SEC’s notice , issued under Section 19(b)(1) of the Securities Exchange Act, confirmed it is considering Cboe BZX Exchange’s application to list the Canar...
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