🚨 Canary PENGU ETF: A New Era for Memecoins?

The latest Form 19b-4 filing by Cboe BZX to list the Canary $PENGU  ETF signals something bigger than just another product launch — it may be the beginning of memecoins entering institutional portfolios.

📌 What’s different this time? Unlike typical ETFs that track mainstream assets, this one plans to hold 80–95% $PENGU  (yes, a memecoin) and 5–15% in Pudgy Penguins NFTs, with a Solana layer for liquidity. Canary Capital is essentially blending speculation, culture, and blockchain infrastructure into a regulated wrapper.

💭 My take:

This isn’t just about PENGU. It’s a test case for whether cultural tokens — driven by communities and narratives, not just fundamentals — can earn legitimacy in traditional finance. It also aligns with the broader trend of tokenization of niche asset classes (think: NFTs, RWA, memecoins).