Canary Capital has submitted an application to launch a PEPE-linked exchange-traded fund., 2026/04/09 12:30:39

The investment firm Canary Capital has submitted an application to the U.S. Securities and Exchange Commission (SEC) for the establishment of an exchange-traded fund (ETF) linked to the meme coin PEPE.

The application states that the fund will directly hold PEPE tokens, and the net asset value will be calculated based on prices from major cryptocurrency exchanges. Investors will have the opportunity to purchase shares of the fund through brokerage accounts without the need to buy the meme coin directly.

The minimum purchase amount will be set at 10,000 shares. Initially, the fund may allocate up to 5% of its assets in ethers to cover transaction fees associated with PEPE tokens. The document does not specify the stock exchange where Canary intends to list the fund, nor the companies that will handle the custody of the digital assets.

Canary noted that PEPE, an ERC-20 standard token launched on the Ethereum blockchain in April 2023, is a highly speculative asset, with its value primarily driven by popularity and social sentiment. It is worth mentioning that the meme coin was created in honor of the frog character Pepe from the comics by American artist Matt Furie.

Canary cautioned that the PEPE market is relatively new and unregulated, which means it may not comply with existing regulatory requirements and could be susceptible to fraud, market manipulation, and security breaches.

Last year, Canary submitted applications for the launch of ETFs linked to the cryptocurrencies Mog Coin (MOG), Pudgy Penguins (PENGU), and Axelar (AXL). In August, the company informed the regulator of its plans to launch an ETF based on the meme coin TRUMP, associated with U.S. President Donald Trump.