Canary Lists PEPE ETF on Cboe BZX Exchange
Crypto asset PEPE Coin is making its way into the exchange-traded fund (ETF) space, courtesy of Canary Capital Group LLC. The firm filed a pre-effective amendment to the fund's Form S-1 registration statement with the US Securities and Exchange Commission (SEC) on October 2. The amended filing sets out how the Canary PEPE ETF would hold PEPE Coin, the token behind the Pepe the Frog meme, and confirms the shares are expected to list on the Cboe BZX Exchange.
The trust structure in the amended filing is as follows: Canary Capital Group LLC is the sponsor, while BitGo Bank & Trust, N.A. would custody the fund's PEPE. CSC Delaware Trust Company is the trustee, U.S. Bancorp Fund Services is the transfer agent, and U.S. Bank N.A. would serve as cash custodian. Shares would be issued in baskets of 10,000, and the filing leaves the ticker symbol blank, meaning it has not yet been assigned.
The PEPE application is the latest in a line of Canary filings that stretch beyond Bitcoin and Ether. The firm previously filed for a Pudgy Penguins (PENGU) ETF and, separately, submitted a final prospectus for a staked TRON (TRX) ETF. The amendment keeps the PEPE fund in a broader push by issuers to package altcoins and memecoins into exchange-traded products after the SEC cleared the first batch of leveraged Bitcoin and Ether ETPs.
The filing carries a blunt risk warning: the shares are speculative securities and an investment in the trust involves significant risk. Because the trust is not registered under the Investment Company Act of 1940, investors would not receive the protections that act provides.