#BinanceLaunchpoolGUN According to Odaily, Canary Capital has recently filed multiple applications for altcoin ETFs, sparking debate within the community about whether this move is a strategic initiative or a marketing ploy. In response, the fund’s CEO, Steven McClurg, clarified that each application is thoroughly evaluated. He explained that early investments are aimed at securing a first-mover advantage, highlighting HBAR as a stable token that remains overlooked by other ETF issuers.
The decision to apply for the PENGU ETF was influenced by remarks from U.S. Securities and Exchange Commission officials, who have stated that NFTs and meme coins should not be classified as securities.
McClurg also pointed out that while major firms like BlackRock can afford to take risks, smaller companies like Canary Capital must be highly strategic with their time and financial resources. Despite these challenges, he remains optimistic that many ETF proposals could gain approval next year.
