{"id":8268,"date":"2026-04-10T06:54:36","date_gmt":"2026-04-10T06:54:36","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=8268"},"modified":"2026-04-10T06:54:36","modified_gmt":"2026-04-10T06:54:36","slug":"pepe-etf-pitch-lands-with-a-shrug-as-meme-coin-mania-meets-wall-street-skepticism","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=8268","title":{"rendered":"Pepe ETF Pitch Lands With a Shrug as Meme Coin Mania Meets Wall Street Skepticism"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_d03a7fd1d67af632b928db8ded6cdf33\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Canary Capital filed an S-1 with the SEC on April 8 for the first US spot ETF to directly hold PEPE tokens, an ERC-20 meme coin launched on Ethereum in April 2023, with no custodian or exchange yet named.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">PEPE traded near US$0.00000359 after the filing with just a 0.6% gain and trading volume rose only 10% to US$432 million, a notably subdued reaction for a token that once hit multi-billion-dollar peaks.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CoinShares head of research James Butterfill noted altcoin ETFs outside Bitcoin, Ethereum, Solana, and XRP represent just 9% of total AUM, calling meme assets \u201cjust not popular with investors.\u201d<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>Quite an embarrassing story this one, as Canary Capital recently filed an S-1 registration statement with the SEC on April 8 for the Canary PEPE ETF.<\/p>\n<p>Yes, the first proposed US spot fund to directly hold and track the PEPE, the meme coin, but the market response was underwhelming.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-meme-fatigue\">Meme Fatigue?<\/h2>\n<p>The proposed fund would hold spot PEPE, issue shares in 10,000-unit baskets, and calculate net asset value daily at 4:00 p.m. ET. Up to 5% of assets may be held in Ethereum to pay transaction fees, not for investment.<\/p>\n<p>The filing states PEPE\u2019s value is driven by online popularity and social sentiment, not utility. It warns of volatility, market manipulation, custody risks, and possible Ethereum network disruption, with a risk of total loss.<\/p>\n<p>PEPE traded at US$0.00000359 (AU$0.0000052), up 0.6% over 24 hours. Trading volume rose 10% to US$432 million (AU$626.4 million) ahead of the filing, as per CoinMarketCap, a subdued move compared to past spikes driven by retail trading.<\/p>\n<p><strong>Related: Schwab Says There\u2019s No \u201cRight\u201d Crypto Allocation\u2014But Warns Risk Rises Fast<\/strong><\/p>\n<p>Canary has also filed for ETFs tied to Mog, PENGU, and TRUMP.<\/p>\n<p>Investor demand for meme coin ETFs remains weak, and ETF data highlights this, starting with US-listed Dogecoin ETFs having recorded US$13 million (AU$18.85 million) in inflows this year (no, not this week, but this year), ranking 17th among crypto ETFs tracked by CoinShares.<\/p>\n<p>CoinShares research head James Butterfill said demand is concentrated in major assets (shocking) and that meme coin ETFs lack a clear investment case for institutional buyers.<\/p>\n<p>Previous launches have seen limited traction. Grayscale\u2019s Dogecoin Trust ETF began trading in November 2025, and Tuttle Capital has filed for BONK-related products.<\/p>\n<p><strong>Read more: FDIC Moves to Rein in Stablecoins with New Rule Proposal Under GENIUS Act<\/strong><\/p>\n<\/p><\/div>\n<p>Canary Capital,ETF,Pepe#Pepe #ETF #Pitch #Lands #Shrug #Meme #Coin #Mania #Meets #Wall #Street #Skepticism1775804076<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canary Capital filed an S-1 with the SEC on April 8 for the first US spot ETF to directly hold PEPE tokens, an ERC-20 meme coin launched on Ethereum in April 2023, with no custodian or exchange yet named. PEPE traded near US$0.00000359 after the filing with just a 0.6% gain and trading volume rose<\/p>\n","protected":false},"author":1,"featured_media":8269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[100,231,1325,1218,1454,3928,3925,3926,3927,2203,1359,1080],"class_list":{"0":"post-8268","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-coin","9":"tag-etf","10":"tag-lands","11":"tag-mania","12":"tag-meets","13":"tag-meme","14":"tag-pepe","15":"tag-pitch","16":"tag-shrug","17":"tag-skepticism","18":"tag-street","19":"tag-wall"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pepe ETF Pitch Lands With a Shrug as Meme Coin Mania Meets Wall Street Skepticism - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=8268\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pepe ETF Pitch Lands With a Shrug as Meme Coin Mania Meets Wall Street Skepticism\" \/>\n<meta property=\"og:description\" content=\"Canary Capital filed an S-1 with the SEC on April 8 for the first US spot ETF to directly hold PEPE tokens, an ERC-20 meme coin launched on Ethereum in April 2023, with no custodian or exchange yet named. 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