Canary Capital amends filing for proposed PEPE ETF

Canary Capital has filed an amendment to its registration statement for a proposed spot PEPE exchange-traded fund (ETF). The amended S-1 filing provides additional operational details for the product, which aims to hold the PEPE memecoin directly to reflect its market price.

Under the proposed structure, BitGo would serve as the custodian and Cboe BZX would act as the exchange. The move represents an expansion of crypto-based investment products beyond established assets like Bitcoin and Ethereum. Analysts suggest the filing indicates growing issuer confidence in testing the boundaries of the cryptocurrency ETF market.

While the amendment advances the product's development, several factors remain unresolved, including the fund's ticker, specific launch timing, and eventual investor demand. The development coincides with technical market shifts for PEPE, which analysts note has recently broken a long-term downtrend.