According to the latest disclosure from Pudgy Penguins project leader Luca Netz, the team has become one of the advisors to the U.S. government on Crypto Assets legislation. Netz stated that they have traveled to Washington, D.C. multiple times with their partner Abstract to provide professional advice on the formulation of relevant regulations.

This move demonstrates that Pudgy Penguins' influence in the encryption industry is continuously expanding, gradually evolving from a purely NFT project to a more diversified development. Meanwhile, Netz also revealed a noteworthy piece of news: the team has submitted an application for the PENGU ETF. What makes this ETF product special is that it will include both PENGU tokens and NFT assets, which is an innovative step in the current crypto ETF market.

With the continuous development of Crypto Assets and NFT markets, regulatory issues have always been a focus of attention in the industry. Pudgy Penguins actively participates in the legislative process, which not only reflects the project's emphasis on compliance but also contributes to the healthy development of the entire industry.

If the application for the PENGU ETF is approved, it will provide investors with a new avenue to access crypto assets, especially the NFT market. This could further promote the mainstreaming of NFTs and open the doors to the digital art and collectibles market for more traditional investors.

As the situation develops, the industry will closely monitor the progress of Pudgy Penguins in regulatory participation and ETF applications, which could have a profound impact on the entire Crypto Assets ecosystem.