09.04.2026 05:19
**Canary Capital Expandsthe Crypto ETF Frontier with a PEPE‑Based Fund Filing**
Canary Capital Group has submitted an S‑1 registration to the U.S. Securities and Exchange Commission aimed at launching an exchange‑traded fund that tracks the price of PEPE, the Ethereum‑based meme token. The filing reveals that the proposed Canary PEPE ETF would physically hold the memecoin, adopting the same structure as existing spot ETFs that own assets directly.
The registration stipulates that each creation‑redemption unit will consist of 10,000 shares of the fund. Nevertheless, the prospectus does not specify a listing venue, a pricing reference, or the name of the digital‑asset custodian slated to guard the holdings. The Trust’s sole investment aim, as stated in the filing, is “to provide exposure to the price of PEPE Coin, less the expenses of the Trust’s operations and any other liabilities.”
Although the fund will initially allocate up to 5 % of its assets to Ethereum in order to settle transaction fees on the network, Canary has emphasized that ETH will not be retained as an investment. The filing also notes that additional memecoin filings are in the pipeline, including an S‑1 for a Mog (MOG) ETF filed in November 2025 and prospects for ETFs linked to Pudgy Penguins (PENGU), Axelar (AXL) and other digital assets.
At present, Dogecoin (DOGE) remains the only meme coin with an operational spot ETF in the United States. Three such products—Pursued by Grayscale, 21Shares and Bitwise—are currently listed on the NYSE and the Nasdaq. Despite the buzz, inflows have been modest; data from SoSoValue indicate that all three funds together attracted only $7.64 million in net deposits as of April 8, with daily trading volumes remaining limited.
