The price of PENGU token surged 29% to $0.01902 within 24 hours after the U.S. Securities and Exchange Commission (SEC) formally acknowledged Canary’s application for a spot exchange-traded fund (ETF). The proposed ETF would uniquely allocate 80-95% of holdings to PENGU tokens and 5-15% to Pudgy Penguins NFTs, combining digital asset liquidity with non-fungible token scarcity.
Market activity intensified significantly as open interest in PENGU futures contracts jumped 52% to approximately $278 million, reflecting heightened investor engagement. Analysts project potential upside to $0.060 by August should the ETF gain approval, noting strong technical support above $0.013.
While the SEC’s acknowledgment has spotlighted PENGU in regulatory discussions, formal ETF approval remains pending. Market participants are advised to monitor developments cautiously as the proposal undergoes standard regulatory review processes.