Report: PENGU Token’s ‘Social Currency’ Role Underpins Novel ETF Bid
Main Idea
A proposed ETF combining Pudgy Penguins' PENGU token and its NFTs is under SEC review, reflecting the project's evolution from a speculative NFT collection to a multifaceted consumer brand leveraging Web3 principles.
Key Points
1. The proposed ETF would allocate 80-95% of assets to the PENGU token and 5-15% to Pudgy Penguins NFTs.
2. Pudgy Penguins, acquired by Luca Netz in 2022, has grown into a broad IP business, generating over $13 million in revenue by late 2024.
3. The brand gained recognition through viral meme marketing, with its GIPHY account surpassing 53.7 billion views.
4. PENGU token, launched on Solana in December 2024, has attracted over 860,000 holders by July 2025 and is used for activities like tipping creators.
5. The ETF application signifies growing SEC acknowledgment of utility-bearing NFTs, with other meme token ETFs like DOGE also under review.
Description
A proposed exchange-traded fund (ETF) combining Pudgy Penguins’ PENGU token and its non-fungible tokens (NFTs) has progressed to formal review by the U.S. Securities and Exchange Commission (SEC), according to a new report by Animoca Brands Research. Animoca Highlights Pudgy Penguins’ Path: IP Boom to ETF Filing Animoca researchers note that the hybrid product, filed
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