Canary Capital Pushes Crypto ETF Frontier Further With PEPE Filing

Canary Capital Group filed an S-1 registration assertion with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) monitoring PEPE Coin (PEPE).

The proposed Canary PEPE ETF would maintain the Ethereum (ETH)-based meme coin immediately, mirroring the construction of present spot ETFs. 

According to the submitting, the Canary PEPE ETF would promote or redeem shares in baskets of 10,000 models. The prospectus leaves the itemizing change, pricing benchmark, and digital asset custodian unnamed.

“The Trust’s funding goal is to hunt to supply publicity to the worth of PEPE Coin (“PEPE”) held by the Trust, much less the bills of the Trust’s operations and different liabilities,” the filing reads.

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A small portion of the Trust’s property, capped at 5%, would initially be held in ETH to cowl transaction charges on Ethereum. However, the asset supervisor pressured that the ETF won’t “maintain ETH for funding functions.”

In addition to PEPE, Canary submitted an S-1 for a Mog Coin (MOG) ETF in November 2025 and has filed for funds tracking Pudgy Penguins (PENGU), Axelar (AXL), and others.

For now, Dogecoin (DOGE) is the one meme coin with reside ETFs within the US. Three spot funds from Grayscale, 21Shares, and Bitwise commerce on the NYSE and the Nasdaq.

However, demand stays skinny. SoSoValue data exhibits that cumulative web inflows throughout all three totaled simply $7.64 million as of April 8, with mixed each day quantity barely topping $209,000

Meanwhile, the information had little affect on PEPE’s worth. The meme coin traded close to $0.0000035 at press time.

The token fell by greater than 4.8% over 24 hours as broader geopolitical uncertainty continued to stress danger property.

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