Canary Capital is I have submitted the registration form. Canary PEPE ETF proposes an exchange-traded fund designed to supply buyers with direct publicity to PEPE by means of conventional brokerage accounts.
The appliance filed on April 8 states that the belief will maintain spot PEPE, calculate its web asset worth utilizing a value benchmark constructed from main PEPE buying and selling venues, and difficulty shares in baskets of 10,000 shares.
The prospectus frames PEPE as a extremely speculative asset whose worth is primarily pushed by on-line recognition, cultural relevance, and social sentiment somewhat than clear blockchain utility. It states that PEPE is an ERC-20 token launched on Ethereum in April 2023, and that the belief could initially maintain as much as 5% of ETH belongings to cowl community transaction charges related to PEPE transfers.
Canary’s construction mirrors the now-familiar spot crypto ETF template. Whereas the fund holds the underlying tokens immediately, avoids derivatives and leverage, and makes use of a custodian to guard belongings, it warned buyers might lose their complete funding.
The submitting additionally highlights that the PEPE spot market is comparatively new and largely unregulated, exposing the product to volatility, manipulation issues, custody dangers, and disruptions to the Ethereum community.
What’s notable about this submitting is that memecoin ETFs are now not theoretical. Grayscale’s Dogecoin product is already operational within the US market. In accordance with the March 2026 prospectus complement and annual report, the Grayscale Dogecoin Belief ETF trades on the NYSE Arca below the ticker GDOG, with shares listed on November 24, 2025.
BONK can be already within the utility pipeline, albeit with a distinct construction. Tuttle Capital filed for the Tuttle Capital Bonk Earnings Blast ETF in September 2025, and the Tuttle Capital 2X Lengthy Bonk Every day Goal ETF was additionally included within the earlier leveraged crypto ETF registration set, in keeping with a separate SEC submitting.
Tuttle additionally known as for approval of a number of leveraged crypto ETFs tied to tokens like Trump and Melania, a part of a broader effort to check how far crypto ETF wrappers will be pushed.
