CBOE Files 19b-4 for Canary PENGU ETF Combining Solana-Based Memecoin and Pudgy Penguins NFTs Under SEC Review

Canary Capital has filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) through the Chicago Board Options Exchange (CBOE) to launch the Canary PENGU ETF, which combines the Solana-based memecoin $PENGU and Pudgy Penguins NFTs. This filing marks the first ETF to integrate NFTs alongside a memecoin, making $PENGU the second memecoin after Dogecoin (DOGE) to enter the SEC's formal review process. The ETF was internally approved by CBOE on June 10, 2025, and is now under SEC review.

The Canary PENGU ETF joins other prominent cryptocurrencies such as Bitcoin (BTC), Solana (SOL), and XRP in the SEC’s review pipeline. Following the filing, $PENGU’s market capitalization surged to approximately $896 million, with the token rising 62% over the week and up 300% year-to-date. The Pudgy Penguins brand has gained notable traction both among consumers and institutional investors, particularly in Asia, where it is viewed as a culturally resonant digital asset. Analysts and community members have compared $PENGU’s appeal to Dogecoin, emphasizing its popularity as a “cute” crypto character and its growing influence in financial markets. The ETF listing would represent a pioneering step in combining NFTs with traditional financial products, potentially setting a precedent for future asset-backed ETFs in the crypto space.