Canary Capital has become the latest crypto asset manager to make a big bet on altcoins. The company is seeking approval from regulators to list its fund tracking system. Pudgy Pengus (PENGU),.
Canary Capital, based in Nashville, Tennessee on Thursday You can find out more about this by clicking here. an S-1 form seeking approval from the U.S. Securities and Exchange Commission for its Canary PENGU ETF—a fund that will hold both the token in question and NFTs from the prominent Ethereum NFT collection.
PENGU (pronounced “Pengu”) is a type of PENGU. SolanaThe Pudgy Penguins NFT token was launched in January. Its value soared before it crashed hard, like most other meme coins. It was launched in January and saw a rapid rise in price before it crashed hard along with most meme coins. It's now priced 90% below the high of $0.068 it touched following its launch, CoinGecko data The following is a list of the most recent shows..
The price of the token spiked for a brief period after the announcement. It has now lost its momentum, and the coin is currently down 2% in one day. PENGU was the 161st-most valuable cryptocurrency according to market capitalization at this time.
Demand for smaller coins and tokens is pushing asset managers to file applications with the SEC—a byproduct of the more crypto-friendly policies of U.S. President Donald Trump.
Luca Netz is the CEO of Pudgy Penguins. Decrypt that the project was "excited to be a part of crypto history with the first NFT and coin filing."
The ETF is a popular investment vehicle that allows investors to gain exposure into an asset. Last year, the SEC approved Bitcoin ETFs. This led to an influx of capital.
After the product was quietly approved by the regulator, Ethereum ETFs were listed on the market in July. The funds haven't been as successful as their Bitcoin counterparts, but demand for crypto-focused products in traditional financial forms has been strong.
Canary Capital, VanEck, 21Shares The following are some examples of how to get started: Bitwise, as well as others, have been trying to obtain ETFs which track coins including XRP. Solana and Litecoin. On the market For U.S. Investors
James Rubin & Andrew Hayward edited this book
