Pudgy Penguins (PENGU) surged sharply to near a six-month peak following the US Securities and Exchange Commission’s (SEC) acknowledgment of the Canary PENGU exchange-traded fund (ETF) filing. The announcement sparked the token’s double-digit price surge, generating fresh bullish momentum for the community favorite meme currency and its investors and traders.
In the past 24 hours, PENGU surged by 33.36%, reaching the 24-hour spot price of $0.01939. The rapid increase propelled its market capitalization to $1.21 billion, indicating massive investor interest. Concurrently, 24-hour volume surged by 355.1%, touching $736.65 million, revealing hefty market action and speculative buying.
SEC reviews canary capital’s proposal for Pengu ETF
The SEC publicly commented on July 9 on the ETF proposal by Canary Capital under Section 19(b)(1) of the Securities Exchange Act and Rule 19b-4. The Cboe BZX Exchange will trade the ETF, which combines PENGU tokens and Pudgy Penguins non-fungible tokens (NFTs).
The fund’s assets will have approximately 80-95% dedicated to PENGU tokens, and the balance 5-15% will consist of handpicked NFTs. The S1 ETF filing was first submitted by Canary Capital in March.
The Cboe BZX Exchange subsequently filed the Cboe BZX Exchange’s Form 19b-4 in late June, and two amendments thereto were made, all on July 8. The SEC has now put out a request for public comment, to be filed 21 days after its initial posting in the Federal Register.
The regulatory news spurred a historic price spike, and PENGU reached its highest value since January 2025. The market figures revealed a 23.54% increase, forecasting bullish investor outlooks and renewed interest in the altcoin’s prospects.
Analyst forecasts Pengu surge to $0.060
Crypto trader @ali_charts described the current price movement as a “textbook bullish retest” and expects the price to shoot up to $0.060 by August if the trend is to continue. The upcoming ETF will combine PENGU with top digital currencies like Solana (SOL) and Ethereum (ETH), ensuring diversified exposure.
If approved, this ETF would be the first to integrate NFTs and memecoins within a regulated financial product. The hybrid model closes the gap between blockchain-native assets and cultural IP, attracting both mainstream investors and crypto natives. Industry observers see this as a groundbreaking moment in the mainstreaming of digital assets.
The Canary PENGU ETF filing is groundbreaking in crypto market history and evolution, and it has the capacity to reshape retail investment strategies in memecoins and NFTs. The positive market response is an indicator of the growing confidence in the future of Pudgy Penguins.
