The Canari capital has filed a S-1 form With the Securities and Exchange Commission (SEC) to launch a fund (ETF) negotiated in exchange for crypto which provides an exhibition to the Pingou token and the collection of non -fleeting token (NFT) in Penguins.
This marks the first ETF linked to the crypto offering an NFT collection.
According to the file, the fund will invest in a portfolio made up of pingou and NFT tokens from the grassouillant Penguins collection.
In addition, the Fund will hold Solana (Sol) and Ethereum (ETH), which the file describes as “necessary or accessory to the purchase, sale and transfer of pingou and grassfit penguins of the trust.”
PEGGUE, the native token of the penguin grassuated ecosystem currently has a market capitalization of $ 435 million. An hour after the news, the price of the token jumped from 7% to $ 0.0073. During the same period, the price of the soil of the nft of fatty penguins jumped by more than 0.5 eTH.
Luca Netz, CEO of Pudgy Penguins, recognized The deposit, the appellant “History”. Igloo Inc., the parent company behind the Penguins Pedgy collection, added::
“We believe that fatty penguins are the face of crypto, representing innovation and mass adoption of blockchain technology. Being included in this file is a strong validation of this belief. ”
Historically out of the box
Canary Capital has a history of ETF deposits linked to unconventional cryptography. On November 12, 2024, the company filed a S-1 form For the first ETF of Hedera (Hbar), which drew attention because Hbar was outside the top 20 crypto by market capitalization.
This decision surprised certain analysts, such as the senior analyst of Bloomberg ETF, Eric Balchunas, who said using Google to understand what Hedera is.
This trend continued in 2025. Canary filed the S-1 form for the first ETF of Axlar (AXL) on March 5 and followed the first SUP (SU) and March Deposit on March 17, shortly after having recorded it in Delaware on March 6.
These deposits suggest a wider canary effort to extend the scope of ETF linked to crypto beyond traditional active ingredients such as Bitcoin (BTC) and Ethereum, testing the waters with the dry on the way to the path.
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