SEC Extends Review Period for PENGU and T. Rowe ETFs

Canary's PENGU ETF seeks exposure to the Pudgy Penguins ecosystem, a prominent non-fungible token collection.

Crypto News

The Securities and Exchange Commission postponed decisions on two crypto exchange-traded funds and opened public comment on options for a third fund in separate rulings issued Monday.

Federal Register notices show the SEC designated a longer review period for proposed rule changes that would allow listing of the Canary Pudgy Penguins PENGU ETF on Cboe BZX and the T. Rowe Price Active Crypto ETF on NYSE Arca. Both filings fall under the SEC's 19b-4 process, which permits extensions of up to 45 days while the agency evaluates market structure, investor protection, and manipulation concerns.

Canary's PENGU ETF seeks exposure to the Pudgy Penguins ecosystem, a prominent non-fungible token collection. The proposal represents one of the more unconventional crypto-related ETF applications currently before the SEC, testing how far the agency will go in permitting meme- and NFT-adjacent exposure in an

structure.

The T. Rowe Price Active Crypto ETF is an actively managed vehicle that would invest in a diversified basket of

beyond Bitcoin and Ethereum. The proposal brings a traditional mutual fund brand deeper into multi-asset crypto strategies.