Meme Coins Make Comeback as Canary Revives PEPE ETF Filing

Meme coins are making a comeback in the crypto space, and one of them is PEPE. Canary Capital amended its proposed PEPE ETF filing on October 2, which has sparked renewed interest in meme coins.

The filing was first made in April, but it's now been revised to reflect changes in market conditions. The proposed fund would hold PEPE directly and track its price, less operating expenses and other liabilities. The new amendment keeps the original structure intact, with an intended listing on Cboe BZX.

Bloomberg ETF analyst Eric Balchunas called the filing 'arguably another sign crypto winter has ended.' He notes that investors were previously hesitant to launch products tied to speculative assets like PEPE, but now it's becoming safer to test market demand. The appeal of meme coins is highly sensitive to market appetite for risk, and PEPE has regained activity after a prolonged period of weakness.