CBOE Files 19b-4 for Canary PENGU ETF Under SEC Review, Second Memecoin ETF Backed by Solana $PENGU and NFTs

The Chicago Board Options Exchange (CBOE) has filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to list and trade the Canary PENGU ETF, which is backed by the Solana-based memecoin $PENGU and the Pudgy Penguins NFTs. This filing marks the first-ever ETF combining a memecoin and NFTs and is only the second memecoin-style ETF to enter the SEC’s formal review process after Dogecoin (DOGE). The ETF was internally approved by CBOE on June 10, 2025, and is now under SEC review.

The Canary PENGU ETF joins other digital assets under SEC consideration, including Bitcoin (BTC), Solana (SOL), and XRP. Following the filing, $PENGU's market capitalization surged to approximately $896 million, with momentum driving a 300% year-to-date increase. Market analysts note that $PENGU is on track to capture a 2.5% market share of all memecoins, potentially reaching a $1.25 billion valuation. The Pudgy Penguins NFTs have previously accounted for nearly 40% market share within their category. $PENGU has been leading smart money inflows and weekly percentage gains among major cryptocurrencies recently. The ETF filing is seen as a key development in the memecoin and NFT space, with speculation about future similar products, including a possible $FARTCOIN ETF. The Canary PENGU ETF represents a novel financial product that could pave the way for ETFs holding NFTs and memecoins together.