Canary Capital Files for Groundbreaking Pepe ETF Proposal

Canary Capital's proposed Pepe memecoin ETF is the latest addition to the growing list of crypto-related exchange-traded funds (ETFs) filed with the US Securities and Exchange Commission.

The fund aims to capture the volatility of the meme-based cryptocurrency, which has experienced significant price swings since its launch in 2023. Institutional investors could use a Pepe ETF to take advantage of this market volatility, rather than holding it long-term.

Laurens Fraussen, a research analyst at crypto data platform Kaiko, explained that 'the more natural buyer' for the fund is likely to be speculative investors who want memecoin exposure through their regular brokerage accounts. Memecoins like Pepe have captivated retail investors over the years with eye-watering rallies, but investing in them often requires buying the token through a dedicated crypto exchange or on-chain on the Ethereum blockchain.