Meme Coins Return to Spotlight with Amended PEPE ETF Filing

Key Insights:

• Meme coins return to focus as Canary amends its proposed PEPE ETF filing.
• Eric Balchunas called the filing another possible sign that crypto winter has ended.
• PEPE’s recent gains and trading activity provide context for the renewed interest in meme coins.

Meme coins are once again appearing inside the U.S. crypto ETF pipeline. Canary Capital amended its registration for a proposed PEPE ETF on Oct. 2, giving the product another step in its path toward a potential launch.

Bloomberg ETF analyst Eric Balchunas called the filing “arguably another sign crypto winter has ended” in a post on X.

The comment points to something broader than PEPE. Issuers are still willing to test demand for products tied to some of crypto’s most speculative assets.

The PEPE ETF is Moving Again

Canary first filed for the spot PEPE ETF with the U.S. Securities and Exchange Commission in April. The proposed fund would hold PEPE directly and seek to track its price, less operating expenses and other liabilities.

The original filing said the trust would calculate net asset value using a pricing benchmark based on PEPE trading activity across major platforms. The new amendment keeps that structure in focus. The filing also indicates an intended listing on Cboe BZX.