Canary Capital CEO Steven McClurg believes that the NFT market is poised for a revival, especially with the potential introduction of funds that track NFT prices. In an interview, McClurg highlighted that the SEC's recent openness to digital art not being classified as securities along with the emergence of more liquid NFTs paves the way for an NFT-backed ETF. This follows Canary Capital's recent filing with the SEC to launch an ETF, a move that has generated mixed reactions within the crypto community. While some dismiss the move as mere hype linked to popular NFT collections like Pudgy Penguins, others express hope that such a product could reinvigorate interest in NFTs. Despite a significant downturn in the NFT market over the past year, McClurg remains optimistic about digital art's potential for broader acceptance and market engagement in the future, especially as the barriers to entry have lessened.

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