Shiba Inu is once again overlooked due to the possibility of an ETF launch in the US.
CBOE BZX Exchange is about to list and trade stocks in Canary Pengu ETF. Yesterday, the CBOE submitted its 19B-4 application to the US SEC.
According to the filing, CBOE shows interest in Canay Pengu ETF’s stock and trading stock aimed at providing investors with indirect exposure to Solana-based Meme Coin. Bloomberg ETF analyst Eric Bulknas has also confirmed the development of the X-Post.
Canary Pentev was the first and only talented penguin filing and received a filing for the 19B-4 via Cboe. Immediately a clock. pic.twitter.com/852jiptuvf
– Eric Balchunas (@ericbalchunas) June 25, 2025
Canary Pengu ETF
This comes after Canary first submitted the S-1 application and launched the Pengu ETF in the US. The proposed spot-based Exchangetradited Fund is primarily looking to invest in Pengu Token and Pudgy Penguins NFTS.
Additionally, Canary Pengu ETFs hold other digital assets such as Solana and Ethereum. In particular, the move is intended to promote the sale and purchase of ETF’s core holdings Pengu and Pudgy Penguins NFT.
Canary sponsors the ETF, but CSC Delaware Trust will become the trustee of the fund. Like most crypto-centric ETFs, the Canary Pengu ETF is configured as a commodity-based product.
The regulatory process begins
In particular, Cboe has supported Canary’s Pengu ETF application with 19B-4 filing and officially launched the ETF regulatory process. For each filing, CBOE is about to list and trade stocks in Canary Pen ETFs under BZX Rule 14.11(e)(4).
In the meantime, the SEC is expected to grant applications within two weeks of submission. The committee will then schedule four separate deadlines to decide whether to reject or approve them.
Shiba Inu overlooked despite growing demand for Shib ETFs
This development is as asset managers continue to bypass Shiba Inu and instead focus on other meme coins as potential candidates for Spot ETFs.
The company has submitted ETF applications for Dogecoin (Doge), Pudgy Penguins (Pudgy), official Trump (Trump), Bonk (Bonk), and official Melania Meme (Melania).
However, they consistently overlook Shiba Inu despite calls from the Shib ETF community. As previously reported, the Shiba Inu community petitioned Grayscale on Change.org to encourage Digital Asset Manager to introduce Shib-linked ETFs. The petition has collected 11,700 signatures since its introduction last year.
To attract asset managers, Shiba Inu’s marketing lead, Lucie, Published x’s post Earlier this year, Shiv highlighted why ETFs are worth it. She cited the broad accessibility of tokens, resistance to manipulation, and community-driven growth.
Despite these efforts, asset managers continue to overlook Shiba Inu as a potential ETF candidate, and instead support other meme coins.
Meanwhile, Shiba Inu’s popularity in the broader crypto market continues to grow. It is currently ranked as the 19th largest code and the second largest memecoin, with a market capitalization of $6.888 billion.
