🐸 Hold my beer. Institutionals officially went into dispersion: Canary Capital applied S-1 for a spot PEPE ETF.
Yes, yes, you read everything correctly. Serious uncles from Wall Street in expensive suits plan to sell ETF to the stock market on a meme with a green frog on the Cboe BZX exchange.
The head of the ETF at Bloomberg, Eric Balchunas, looked at this and gave out a base base: if they seriously apply for the memecoin-ETF, the bear market is officially dead, and the bull is already opening the doors. A year ago, for the offer to make a PEPE ETF in the SEC, you would have just been laughed at and sent to rest from the charts.
The most beautiful thing is the details of the application itself:
• Utility? What utility? Canary Capital decided not to make analysts out of themselves and honestly indicated in the document for the SEC: there is no practical use for the token. Only pure HYIP, crazy liquidity and people's love. A real honest fund!
• Gas stash: Up to 5% of the fund's assets were allowed to be kept in Ethereum - solely to pay network commissions for the frog race.
The evolution of cryptocurrency has gone from "Bitcoin will close the banking system" to "Add me PEPE to the pension portfolio, please".
Yes, yes, you read everything correctly. Serious uncles from Wall Street in expensive suits plan to sell ETF to the stock market on a meme with a green frog on the Cboe BZX exchange.
The head of the ETF at Bloomberg, Eric Balchunas, looked at this and gave out a base base: if they seriously apply for the memecoin-ETF, the bear market is officially dead, and the bull is already opening the doors. A year ago, for the offer to make a PEPE ETF in the SEC, you would have just been laughed at and sent to rest from the charts.
The most beautiful thing is the details of the application itself:
• Utility? What utility? Canary Capital decided not to make analysts out of themselves and honestly indicated in the document for the SEC: there is no practical use for the token. Only pure HYIP, crazy liquidity and people's love. A real honest fund!
• Gas stash: Up to 5% of the fund's assets were allowed to be kept in Ethereum - solely to pay network commissions for the frog race.
The evolution of cryptocurrency has gone from "Bitcoin will close the banking system" to "Add me PEPE to the pension portfolio, please".
