Canary Capital amends PEPE ETF application amid crypto market recovery

Asset management firm Canary Capital has amended its application to the U.S. Securities and Exchange Commission (SEC) for a PEPE index exchange-traded fund (ETF). The application, originally submitted in April 2026, focuses on the Ethereum-based meme coin PEPE, which currently holds a market capitalization of approximately $1.8 billion.

Analysts view this amendment as a sign of recovering confidence within the cryptocurrency industry. Simultaneously, Ethereum is reportedly leading a recovery in the crypto fund market. Experts suggest Ethereum’s relatively low valuation and the introduction of spot ETFs are providing regulated investment channels that attract capital, despite recent short-term price fluctuations and resistance levels.