The first NFT-type ETF: Canary Capital submits PENGU ETF application, analysts criticize harshly: Crypto Assets ETF is just a joke.

According to CoinDesk reported yesterday (21), asset management company Canary Capital filed a PENGU ETF application after filing the world's first SUI ETF application with the U.S. Securities and Exchange Commission (SEC) earlier this week. (Synopsis: The world's first "SUI ETF" submitted to the SEC for review, Solana futures officially landed on CME to pave the way for SOL ETF approval) (Background supplement: Bitwise launched "Bitcoin Concept ETF" to track more than 1,000 BTC listed companies, micro strategies, mining companies, game companies.. Top 10 Constituent Stocks at a Glance) Pudgy Penguins, the top blue-chip NFT (non-fungible token) project of Ethereum, which swept the Web3 and Web3 worlds at the end of last year, officially launched the official token $PENGU on the public chain Solana at the end of last year, which caused a sensation. And just 4 months after the fat penguin issued coins, according to CoinDesk reported yesterday (21), asset management company Canary Capital submitted a PENGU ETF application after submitting the world's first SUI ETF application to the US Securities and Exchange Commission (SEC) earlier this week. The first ETF in the United States to hold NFTs reported that Canary's ETF will hold the following assets: PENGU tokens; Pudgy Penguins series NFTs; As well as other digital assets such as SOL and ETH, which officials say are necessary and incidental to the purchase, sale and transfer of PENGU tokens and Pudgy Penguins series NFTs. PENGU first pulled and then rose According to CoinGecko data, after the news was released, the PENGU token once rushed to a maximum of $0.00715246 on March 21, but then quickly retreated, writing has now reached $0.0062, down as much as 10% in the past 24 hours, and the market value has reached $390 million. PENGU trend. Source: CoinGecko According to OpenSea data, the Pudgy Penguins NFT floor price is also currently at 9.73 ETH, down 2.4% in the past 24 hours. Analysts criticize: cryptocurrency ETFs have become a joke Before Trump took office, the United States criticized spot ETFs of Bitcoin and Ethereum last year; Trump's friendly attitude towards cryptocurrencies after taking office has also encouraged major asset management companies to submit applications for various altcoin spot ETFs, such as SOL, XRP, LTC and so on. However, cryptocurrency researcher Alex Krüger commented yesterday on the PENGU ETF application that cryptocurrency ETFs are now a joke (as if any altcoin can apply for an ETF): After the Fat Penguin ETF application was submitted, the price barely rose, and the cryptocurrency ETF has now become an irrelevant joke. Most cryptocurrency ETFs fail to attract funds and can even cost issuers. Pengu ETF announced. Price barely goes up. New ETFs for crypto assets have become an irrelevant joke. Most crypto ETFs will fail to attract AUM and cost issuers money. — Alex Krüger (@krugermacro) March 20, 2025 Related Stories Rich dad warns: the biggest stock market crash in history has started, baby boomers may be destroyed, don't buy bitcoin spot ETF Bitcoin spot ETF "single-day net outflow of 938 million magnesium" record high! Experts: Seriously affected by the general economic impact may be killed again Three perspectives interpretation: the potential impact of the staking mechanism on the development of ETH ETF [the first NFT ETF) Canary Capital submitted a PENGU ETF application, analysts criticized: cryptocurrency ETFs are a joke This article was first published in BlockTempo "Dynamic Trends - The Most Influential Blockchain News Media".