Breaking: CBOE Files 19b-4 For Canary PENGU ETF With US SEC

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CBOE has finally filed its 19b-4 form for Canary PENGU ETF, months after Canary Capital first filed the S-1 form for this fund, which will provide institutional investors with exposure to the Solana meme coin. PENGU becomes only the second meme coin to have a proposed ETF in the pipeline.

CBOE Files 19b-4 Form For Canary’s PENGU ETF

In a SEC filing, CBOE declared its intention to list and trade shares of the Canary PENGU ETF. This Commission will now have to determine whether or not to approve this fund, which will provide investors exposure to the PENGU meme coin.

This filing comes two months after Canary Capital filed the S-1 for the meme coin ETF. The fund will hold PENGU, Pudgy Penguin non-fungible tokens, SOL, and ETH. Specifically, the fund will hold between 80% to 95% of its total assets in PENGU and 5% to 15% of its total assets in the NFTs.

However, Canary Capital expects to hold at least 95% of the fund’s total assets in PENGU and Pudgy Penguin NFTs. Meanwhile, because PENGU and the NFT are tokens on the Solana and Ethereum networks, respectively, the asset manager noted that it may be necessary to hold SOL or ETH to pay network fees.

PENGU becomes only the second meme coin to have a 19b-4 filing on the SEC’s desk after Dogecoin. Canary is the only asset manager that has filed to offer a PENGU ETF. On the other hand, Grayscale, Bitwise, and 21Shares have all filed to offer a DOGE ETF.

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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
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