Canary Capital Group Expands Crypto ETF Portfolio with PEPE Coin Tracking Fund

Canary Capital Group has made another move in the rapidly evolving world of cryptocurrency exchange-traded funds (ETFs). The company has filed an application to launch a new ETF tracking the price of PEPE Coin, a popular meme-based digital asset. This latest development is part of Canary's growing pipeline of crypto ETF offerings.

The proposed ETF would hold the Ethereum-based PEPE Coin directly and aim to track its price while accounting for operational costs and liabilities. According to the filing with the U.S. Securities and Exchange Commission (SEC), up to 5% of assets may remain in Ethereum to cover transaction fees, a common practice among spot crypto ETFs.

Despite this latest move, market data suggests that investor appetite for meme coin ETFs remains limited. As reported earlier, cumulative net inflows into existing meme coin ETFs have only reached $7.64 million as of April 8. Moreover, combined daily trading volume across these funds stood at approximately $209,000.