Is the first PEPE spot ETF set to take shape? Canary advanced its listing application earlier this month.

US asset management firm Canary Capital filed an S-1 registration statement for the Canary PEPE ETF with the U.S. Securities and Exchange Commission (SEC) on April 8, 2026, and submitted an amended filing (S-1/A) on October 2. The fund plans to hold PEPE tokens directly, list on the Cboe BZX exchange, and use custodians including BitGo. This application is one of the moves by issuers to integrate meme coins into regulated products, following the approval of spot Bitcoin and Ethereum ETFs. The amended document clarifies details such as the trust structure, investment objective (providing PEPE price exposure net of operating fees), and issuance basket size. However, the SEC has not yet declared the registration statement effective or issued an approval decision. There is currently no fixed approval deadline; while the market expects further developments, the approval outcome remains uncertain. While news of the ETF application has repeatedly drawn market attention and driven PEPE price fluctuations at times, the product is still in regulatory review as of now. Investors cannot yet access PEPE spot exposure through traditional securities accounts and should continue monitoring subsequent SEC filing updates and final decisions. In a prior report, Justin Sun traded PEPE again after a two-year hiatus, with associated addresses currently holding a total of 11.8 trillion PEPE at an average entry price of $0.000004114.