Canary Capital file S-1 for PEPE spot ETF as SEC dey review am

Canary Capital don file Form S-1 (dem submit am for April 8) for one “Canary PEPE ETF,” dem dey try make SEC approve PEPE spot ETF wey go hold spot PEPE through third-party custodian and follow PEPE price movement. The filing get operational details like say dem go use 10,000-share basket units and dem go set NAV using benchmark prices from major PEPE trading venues. One big part for the PEPE spot ETF plan na dem allow make up to 5% of assets dey in ETH to cover Ethereum network Gas fees. The document also frank about risks, call PEPE a “pure meme coin” wey no get intrinsic utility, and point out Ethereum-layer threats wey fit affect liquidity and operations, including network congestion, MEV attacks, and volatile Gas costs. For traders, this PEPE spot ETF filing fit be short-term sentiment catalyst for meme-coin exposure and e fit attract extra institutional-style demand if approval go dey move forward. But timing for SEC feedback still uncertain, so price fit move sharply around headlines and filings. For context, the only meme-coin spot ETF precedent mention na Dogecoin, wey show lacklustre early performance — something to watch for how market fit price approval odds.