Demex Daily #374: Canary Capital Files for First NFT & Token ETF Approval

What’s Interesting Today:

Canary Capital has filed for SEC approval to launch the Canary PENGU ETF, which will hold both the Solana-based PENGU token and Pudgy Penguins NFTs. PENGU surged in value after its January launch but has since dropped 90% from its peak. The ETF filing comes amid growing demand for smaller crypto assets and follows the SEC’s approval of Bitcoin and Ethereum ETFs. Pudgy Penguins CEO Luca Netz called it a historic moment as the first NFT and token ETF filing. Canary Capital joins other firms like VanEck and Bitwise in pushing for crypto ETFs tracking altcoins.

Trade PUDGY PENGUINS PENGU-PERP on Demex

XDAO, a TON-based protocol, has enabled legal recognition for over 367,000 DAOs by automating the legal process and providing a framework for DAO sub-entities. Incorporated in Singapore, it allows DAOs to sign legally binding agreements via Telegram bots and Web3 wallets, though it excludes areas like real estate and securities. Smart contract compliance enables arbitration through e-signatures or messengers, with arbitrators added to DAOs for dispute resolution if consensus fails.

Trade THE OPEN NETWORK TON-PERP on Demex