Canary Capital has filed a registration assertion for the Canary PEPE ETF, a proposed change traded fund designed to present traders direct publicity to PEPE by way of a standard brokerage account.
The submitting, submitted April 8, says the belief would maintain spot PEPE, calculate internet asset worth utilizing a pricing benchmark constructed from main PEPE buying and selling venues, and challenge shares in 10,000 share baskets.
The prospectus frames PEPE as a extremely speculative asset whose worth is pushed primarily by on-line reputation, cultural relevance, and social sentiment reasonably than clear blockchain utility. It says PEPE is an ERC-20 token launched on Ethereum in April 2023, and notes that the belief might maintain as much as 5% of property in ETH at first to cowl community transaction charges tied to PEPE transfers.
Canary’s construction mirrors the now acquainted spot crypto ETF template. The fund would maintain the underlying token straight, keep away from derivatives and leverage, and use a custodian to safeguard the property, whereas warning that traders may lose their whole funding.
The submitting additionally stresses that PEPE spot markets are comparatively new and largely unregulated, leaving the product uncovered to volatility, manipulation issues, custody dangers, and Ethereum community disruptions.
What makes the submitting notable is that meme coin ETFs are not theoretical. Grayscale’s Dogecoin product is already dwell within the US market. A March 2026 prospectus complement and annual report present the Grayscale Dogecoin Belief ETF trades underneath the ticker GDOG on NYSE Arca, with the shares listed on November 24, 2025.
BONK has additionally already entered the submitting pipeline, although by way of a unique construction. Tuttle Capital filed for a Tuttle Capital Bonk Earnings Blast ETF in September 2025, and separate SEC filings present a Tuttle Capital 2X Lengthy Bonk Each day Goal ETF was additionally included in its earlier leveraged crypto ETF registration set.
Tuttle additionally sought approval for a number of leveraged crypto ETFs tied to tokens together with TRUMP and MELANIA, a part of a broader rush to check simply how far crypto ETF wrappers might be pushed.
