PENGU ETF Review Delayed as SEC Extends Evaluation Period

The SEC has extended its evaluation period for the Pudgy Penguins (PENGU) and T. Rowe Price Active Crypto ETFs to address custody, valuation, and market manipulation risks. This extension does not indicate approval or denial but provides more time to evaluate the applications under the 19b-4 process.

The PENGU ETF, linked to the Pudgy Penguins NFT collection, is considered an unconventional crypto ETF application, while the T. Rowe Price ETF seeks a diversified basket of digital assets. The SEC has used the 19b-4 process to extend the review by up to 45 days, providing more time to assess the products beyond traditional crypto exposure.