In the desolate landscape of cryptocurrency, a lone penguin waddled forth, defying the odds. Pudgy Penguins (PENGU), the meme coin with a penchant for the dramatic, soared to a near six-month high after the US Securities and Exchange Commission (SEC) officially acknowledged the filing for the Canary PENGU exchange-traded fund (ETF). 🚀
The price experienced a double-digit increase, adding further momentum for the meme coin’s latest bullish rally. It was as if the penguin had finally found its wings, and the wind beneath them was the SEC’s nod of approval. 💨
The SEC, once a formidable foe of cryptocurrency, has become more crypto-friendly under President Donald Trump’s administration. It’s a peculiar thing, really – the regulator has yet to approve any altcoin or meme coin ETFs, but it’s willing to give them a chance. 🤔
On July 9, the regulator acknowledged Canary Capital’s Pengu ETF application, and the notice reads like a Soviet-era novel: “Pursuant to the provisions of Section 19(b)(1) under the Securities Exchange Act of 1934 (“Exchange Act” or the “Act”), and Rule 19b-4 thereunder, Cboe BZX Exchange, Inc. (“BZX” or the “Exchange”) is filing with the Securities and Exchange Commission (“Commission” or “SEC”) a proposed rule change to list and trade shares of the Canary PENGU ETF (the “Trust”), under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares.”
The proposed ETF is a curious thing, holding both PENGU tokens and Pudgy Penguins non-fungible tokens (NFTs). It’s a bit like a Soviet-era collective farm, where the penguins work together for the greater good. 🐧
Canary Capital submitted the S1 filing for the ETF in March, and on June 25, Cboe BZX filed a 19b-4 with the SEC. The filing was amended twice, with the most recent amendment submitted on July 8. It’s a bureaucratic dance, really – a waltz of paperwork and regulations. 💃
The SEC is now inviting public comments on the proposal, with the submission deadline set for 21 days after its publication in the Federal Register. It’s a call to arms, really – a chance for the people to have their say in the matter. 📢
This development triggered a significant price surge for PENGU, reinforcing its market-defying rally. BeInCrypto data showed that the altcoin surged 23.54% to a press time value of $0.018. It’s a number that’s almost as impressive as the penguin’s wingspan. 📈
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Moreover, another expert suggested that PENGU has the potential to become a leading meme coin in the current market cycle, with the ETF acting as a key catalyst. It’s a bold claim, really – but one that’s not entirely unfounded. 🤔
“People say PENGU will lead the meme revolution to the masses this cycle with its ETF filing, etc,” he wrote.
unironically think $PENGU may be one of the cleanest bets you can make on a burgeoning ecosystem [@AbstractChain] + memecoin index play
— Ansem (@blknoiz06) July 10, 2025
Thus, with the technical indicators, strong price rally, and ETF progress, the future outlook for PENGU appears bright. Nonetheless, while the momentum is promising, the volatility typical of meme coins should not be overlooked. The actual performance will depend on broader market conditions, regulatory developments, and investors’ continued interest. 📊
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2025-07-10 12:36