Major Progress for PEPE Spot ETF! Traditional Finance Officially Embraces the Meme Track

Canary Capital has filed a revised S-1 for a PEPE spot ETF with the U.S. SEC, with plans to list on the Cboe BZX exchange.

The biggest highlight of this proposal: a pure spot PEPE ETF is intended.
The fund will directly hold real PEPE tokens, no longer relying on futures to capture price gains—an authentic compliance attempt to legitimize on-chain spot assets.

Core product architecture (fully implemented in a written plan)

- Asset custody: PEPE tokens are held in custody by BitGo Bank & Trust
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- Cash custody: account cash is overseen by U.S. Bank
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- NAV pricing: uses CoinDesk’s official PEPE benchmark price for calculation

This complete, compliant, standardized custody and valuation framework means PEPE already has an underlying product structure at the level of traditional finance.

The biggest industry change: Meme coins officially move into mainstream finance

Previously, traditional compliant crypto ETFs were limited to the two major assets—BTC and ETH.
But this round of capital exploration has been comprehensively upgraded:
From major public-chain assets → extending to SOL, XRP, DOGE → and then breaking through to pure-emotion Meme assets like PEPE

This marks a historic shift for the industry:
Meme coins, once defined as “purely speculative, lacking value, and niche on-chain assets,” are now being folded into the U.S. regular securities ETF framework.

Once approved, ordinary investors won’t need private keys, won’t need wallets, and won’t need any on-chain operations.
They can configure PEPE compliantly through traditional stock accounts and enjoy price upside.

An Important Reasoned Reminder

⚠️ Filing an S-1 ≠ Approval
Currently, this is only an update of materials and entry into a new review stage. It does not mean deployment is imminent, nor does it imply that institutional capital will move in right away.

But the direction is already very clear:
Meme assets are moving from untamed on-chain speculation toward standardization, institutionalization, and compliance.

PEPE is just the first ticket in.
Next, the entire Meme track will bring a brand-new financial narrative and valuation logic.

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