Canary Capital's PEPE ETF Proposal Targets Institutional Access to a Highly Concentrated Asset
Institutional investors can now potentially access PEPE through a regulated fund structure. Canary Capital has filed an S-1 application with the SEC to launch a spot exchange-traded fund tracking the meme coin. The fund will hold the underlying tokens with a third-party digital custodian. To cover transaction fees on the Ethereum network, the fund will allocate up to 5% of its portfolio value in Ether. The filing warns that the asset's distribution is highly concentrated, noting that as of January 2026, the ten largest PEPE wallet addresses collectively hold approximately 41% of the total circulating supply. The fund's target audience is institutional players.
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