Cboe Files for Canary PENGU ETF Mixing Memecoins and NFTs

• Cboe officially filed Form 19b-4 to launch the Canary PENGU ETF combining memecoins and NFTs under SEC review.
• The PENGU ecosystem expands through Immutable X integration, skill-based gaming, and Lufthansa partnership rewards.

Cboe has officially filed a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to launch the Canary PENGU ETF, an investment product that could be considered quite daring—mixing the PENGU memecoin token and the Pudgy Penguins NFT in one exchange package.

If approved, this ETF will be the first to combine the world of meme tokens and NFTs into a traditional market framework that is closely monitored by regulators.

The @CBOE files the CANARY PENGU ETF 19b-4.

With this filing, the $PENGU and Pudgy Penguins NFTs ETF becomes only the second memecoin-style ETF, after DOGE, and first filing with NFTs to enter the @SECGov’s formal review process, joining coins such as BTC, SOL, XRP, and DOGE. pic.twitter.com/xtmHi6C8u8

— Igloo (@IglooInc) June 25, 2025

A Bold Mix of Memecoins and NFTs in a Regulated Wrapper

This ETF is designed with an unusual allocation structure. Around 80% to 95% of the funds will be focused on the PENGU token, while 5% to 15% will be used to buy Pudgy Penguins NFTs.

With this, Canary PENGU becomes the second memecoin ETF to enter the formal SEC review stage, following DOGE, and the only one that also touches on the NFT scene. If all goes well, the SEC is expected to make a final decision no later than early next year.

This product could be an entry point for retail and institutional investors who want to experience the thrill of the crypto world without having to bother thinking about digital wallets or blockchain networks. Just buy the ETF, and let the managers worry about the metaverse and rare traits.

PENGU Ecosystem Pushes Forward With Gaming, NFTs, and Real-World Rewards

However, this ETF is not just about tickers and allocations. Behind the scenes, the PENGU and Pudgy Penguins ecosystems are rapidly expanding their technical and community foundations. On June 22, the PENGU team officially announced their integration with the Immutable X protocol.

They want to speed up and streamline NFT transactions on their network. With this Ethereum-compatible layer-2 solution, gas fees can be reduced, and adoption of collections like Pudgy Penguins becomes more wallet-friendly.

Furthermore, CNF also reports that Pudgy Penguins has launched Pengu Clash, a skill-based mini-game built on the TON blockchain. Interestingly, this game can be played directly via Telegram. Players don’t need tokens to win—what’s tested here is purely reflexes and dexterity. This approach brings a new twist to the play-to-earn trend that has so far focused too much on asset ownership, not skill.

And it doesn’t stop there. We previously highlighted a unique collaboration between Pudgy Penguins and Lufthansa. Users can now earn Lufthansa miles every time they make a transaction using fiat or PENGU tokens in the Pudgy Shop. Who would have thought that buying a digital plushie could result in a real flight ticket?

Meanwhile, the PENGU token has seen a rise of around 2% in the past 7 days, trading at around $0.0097, with a trading volume of close to $135 million. The token’s market cap now stands at nearly $600 million.