09.04.2026 07:28
## Canary Capital Seeks SEC Approval for Revolutionary PEPE ETF
Canary Capital has formally submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), signaling their intention to introduce a spot exchange-traded fund (ETF) centered around the highly volatile and popular meme coin, PEPE. This ambitious move aims to provide institutional and retail investors with enhanced accessibility to participate in the PEPE ecosystem.
The proposed CANARY PEPE ETF will primarily hold PEPE tokens, with a supplementary allocation of Ether to cover transaction costs within the Ethereum network. This strategic inclusion of Ether acknowledges the inherent operational needs of the digital asset, ensuring the ETF functions smoothly within the broader cryptocurrency landscape. The fund intends to closely track the price performance of PEPE, mitigating the inherent risks associated with speculative assets. Tokens will be securely custodied by a third-party digital custodian, safeguarding investor assets.
PEPE – a cryptocurrency spawned from the iconic character Pepe the Frog, created by Matt Furie – has experienced a meteoric rise in popularity throughout 2024. Drawing significant momentum within the speculative trading community, the coin has swiftly become a familiar fixture. Its growing online following is further fueled by the endorsement of prominent figures, including Arthur Hayes, co-founder of BitMEX, who has long championed PEPE’s potential. However, the coin's price currently sits considerably below its all-time peak, a testament to the inherent volatility of meme coins. Blockchain data from Etherscan indicates a substantial number of over 250,000 unique wallets holding PEPE.
A significant concern detailed in the S-1 filing is the concentration of PEPE supply among a relatively small number of "whale" wallets. As of January 2026, the top ten wallets collectively control approximately 41% of the total PEPE supply. Canary Capital has proactively highlighted this concentrated distribution, emphasizing the potential risks associated with such a centralization. This risk, they argue, warrants careful consideration by investors and underscores the need for a robust risk management framework. The filing suggests that this concentration is a defining characteristic of the PEPE token distribution.
