Canary Capital has filed an S-1 form seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch an ETF that will hold both the PENGU token and Pudgy Penguins NFTs. The Pudgy Penguins NFT project, which has gained significant attention with over 50 billion social media views, recently launched the PENGU token, which briefly surged in price before experiencing a major downturn. Currently, PENGU is priced substantially lower than its all-time high of $0.068. Attention towards smaller cryptocurrency assets is increasing, prompting asset managers like Canary Capital to pursue new investment products. The CEO of Pudgy Penguins expressed excitement about potentially making crypto history with this ETF, highlighting a broader trend in the cryptocurrency industry where fund managers are exploring many different cryptocurrencies for ETFs following recent regulatory approvals. Demand for crypto-focused ETFs reflects a growing interest among traditional investors in digital assets.

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