Canary Capital submits application for US-based spot PEPE ETF

Canary Capital is preparing to launch an ETF tracking Pepe’s price, despite the token trading 85% below its December 2024 all-time high.

Asset management firm Canary Capital is looking to launch a spot exchange-traded fund (ETF) tied to the PEPE memecoin. 

On Wednesday, Canary filed a Form S-1 for the CANARY PEPE ETF with the US Securities and Exchange Commission. The ETF would track the performance of Pepe (PEPE), with all of the trust’s PEPE held by a custodian. 

It noted that the ETF trust may hold up to 5% of the trust’s assets in Ether (ETH) to pay the transaction fees on the Ethereum network.

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