Canary Capital Pushes Crypto ETF Frontier Further With PEPE Filing

Canary Capital Group has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that will track the price of PEPE Coin (PEPE). The proposed ETF aims to hold the Ethereum-based meme coin directly, similar to existing spot ETFs. The filing outlines that shares would be sold or redeemed in baskets of 10,000 units, though the specific listing exchange, pricing benchmark, and digital asset custodian remain undisclosed. A small portion of the fund's assets, capped at 5%, will be held in ETH to cover transaction fees. This filing follows Canary Capital's previous submissions for ETFs tracking Mog Coin (MOG), Pudgy Penguins (PENGU), and Axelar (AXL). Currently, Dogecoin (DOGE) is the only meme coin with live ETFs in the U.S., but demand has been thin, with low cumulative net inflows and daily trading volumes reported for its existing spot funds. The news of the PEPE ETF filing had minimal impact on PEPE's price, which saw a slight decrease amid broader geopolitical uncertainty affecting risk assets.

(Source：BeInCrypto)