$PEPE ’s ETF application has moved forward another step—why can’t it still be treated as institutional buying?
Canary submitted its first pre-effective amendment on October 2. The proposed listing venue is listed as Cboe BZX, custody is listed as BitGo, and the price benchmark is also filled in: CoinDesk’s 60-minute weighted price.
There’s one line in the prospectus you can’t skip: no offers may be made before the registration statement becomes effective. Creation and redemption are arranged in baskets of 10,000 shares—this is the planned operating method, and it still can’t be used to prove that money has already flowed in.
I don’t like framing every time a filing is supplemented as institutions rushing to accumulate. Even after the product launches, you still have to see whether actual subscriptions keep up. Counting this money in ahead of time can hurt you if expectations fall short.
Open up $PEPE to look at the daily chart and volume: after this news, did the higher volume continue? Check it yourself—don’t treat application progress as approval.
$PEPE #Canary submitted PEPE spot ETF amendment S-1 file
Canary submitted its first pre-effective amendment on October 2. The proposed listing venue is listed as Cboe BZX, custody is listed as BitGo, and the price benchmark is also filled in: CoinDesk’s 60-minute weighted price.
There’s one line in the prospectus you can’t skip: no offers may be made before the registration statement becomes effective. Creation and redemption are arranged in baskets of 10,000 shares—this is the planned operating method, and it still can’t be used to prove that money has already flowed in.
I don’t like framing every time a filing is supplemented as institutions rushing to accumulate. Even after the product launches, you still have to see whether actual subscriptions keep up. Counting this money in ahead of time can hurt you if expectations fall short.
Open up $PEPE to look at the daily chart and volume: after this news, did the higher volume continue? Check it yourself—don’t treat application progress as approval.
$PEPE #Canary submitted PEPE spot ETF amendment S-1 file