Canary Capital Group has filed with the Securities and Exchange Commission for permission to launch a Pudgy Penguins exchange-traded fund (ETF) that will keep up to 15% of its assets in Pudgy Penguins NFTs. Let’s pause here to point out that anyone can apply for an ETF selling anything, but approval is far from assured. While 80%-95% of the prospective ETF’s holdings would be in PENGU tokens, 5%- 15% would be in Pudgy Penguin NFTs chosen “by considering factors such as price, relative rarity, perceived desirability of a particular NFTs traits and characteristics, and the overall collection value.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
