Meme Coins Make a Comeback with PEPE ETF Filing

Meme coins are once again gaining traction as Canary Capital amended its proposed PEPE ETF filing with the U.S. Securities and Exchange Commission on October 2.

This is the second time Canary has filed for the spot PEPE ETF, which would hold PEPE directly and seek to track its price, less operating expenses and other liabilities.

Bloomberg ETF analyst Eric Balchunas called the filing 'arguably another sign crypto winter has ended' in a post on X, pointing to the willingness of issuers to test demand for products tied to speculative assets.

The PEPE ETF's proposed fund would calculate its net asset value using a pricing benchmark based on PEPE trading activity across major platforms, and would be listed on Cboe BZX.

With PEPE's recent gains and trading activity, the market capitalization of the meme-token sector has reached $34.4 billion, with PEPE itself valued at around $1.78 billion and a 24-hour trading volume of nearly $346 million.