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The S-1 filing is crystal clear, this is about the PENGU ETF, not Pudgy Penguins NFTs. Yet, there’s still confusion. Many assume an ETF linked to Pudgy Penguins must involve NFTs, but that’s not what’s happening here Why $PENGU, the token, and not the NFTs? 1. The ETF is for PENGU, Not NFTs If the focus was on NFTs, the filing would mention NFT backed assets or tokenized index funds. It doesn’t. This is a fungible asset, structured in a way that aligns with traditional financial markets. 2. Why an ETF Needs a Fungible Token, Not NFTs ETFs work best with liquid, easily tradable assets. NFTs are non fungible, meaning each one is unique and lacks the volume necessary for efficient ETF trading. A fungible token like PENGU is more suitable because it can be traded like any other digital asset. 3. What This Means for the Future of Web3 Finance A shift in strategy: Pudgy Penguins might be a brand first ecosystem, but PENGU is the financial asset being positioned.
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Crazino pfp
Crazino
@crazino
Institutional attention: A structured ETF brings institutional capital into the Web3 space, but the focus is on the token, not the collectibles. Decoupling NFTs and Tokens: If PENGU gains financial traction, it suggests a separation between NFT culture and tokenized financial products. Final Take: Follow the Real Narrative The ETF isn’t about NFT speculation, it’s about financializing a Web3-native token for a broader market. If this works, expect more traditional finance products tied to digital assets. The real question isn’t whether NFTs fit into an ETF, but rather: Is PENGU being positioned as a serious digital asset beyond its origins?
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