21/03/2025 Walmart toy which became an NFT is now heading for a crypto ETF

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Canary Capital has submitted the paperwork for potentially the first ETF to list its name under the alternative crypto assets of its kind using the PENGU token and NFT featured by Pudgy Penguins, which previously was a toy on Walmart.

This is part of a series of attempts by financial firms to introduce a new avenue of investment to suit the regulated space.

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The institutional crypto trading and management firm filed the registration statement with the U.S. Securities and Exchange Commission Thursday on March 20.

The proposed fund would mostly invest in PENGU, the native token of the Pudgy Penguins ecosystem, as well as Pudgy Penguins NFTs.

The ETF will also feature other digital assets likeEthereum and Solana, which the filing considered necessary for enabling transactions within the fund. “In seeking to achieve its investment objective, the Trust will invest in a portfolio consisting primarily of (1) PENGU and (2) Pudgy Penguins NFTs," theSEC filingreads.

The step comes as there has been renewed interest in crypto ETFs, with firms examining the SEC’s recent moves around the emerging sector. Canary Capital is also pursuing several altcoin ETFs as well,including Sui, Hedera, and Litecoin.

Over the past year, the SEC has taken a more lenient stance towards the crypto space, authorizing spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July 2024.

The regulator has begun tofast-track enforcement actionsagainst major players in the crypto space while assembling a specializedcrypto task forceto craft clearer regulations for the industry.

PwCforecasts global ETF assets under management (AUM) to more than double to $30 trillion by 2029 — highlighting strong growth prospects.

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https://finance.yahoo.com/news/walmart-toy-became-nft-now-191645520.html?guccounter=1

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