Canary PEPE ETF, sponsored by Canary Capital Group LLC, filed an Oct. 2 pre-effective amendment outlining a proposed fund that would hold PEPE Coin (PEPE) directly, with share sales barred until the registration statement takes effect.
The amended prospectus proposes a listing on Cboe BZX Exchange, Inc., subject to notice of issuance, and names BitGo Bank & Trust, N.A., as custodian. It sets 10,000 shares as the size of each creation and redemption basket.
The prospectus says the trust's returns would be tied to PEPE held in the fund, with trust costs and liabilities reducing shareholder exposure. The fund may also keep up to 5% of its assets in Ether (ETH) for transaction fees.
The prospectus says the structure could give investors PEPE exposure through a brokerage account. It also warns that expenses can reduce the amount of PEPE represented by each share over time and that investors could lose their entire investment.
Canary PEPE ETF filed its initial registration statement April 8. The Oct. 2 amendment does not identify when the registration statement may become effective or set a date for an SEC decision. The filing says the SEC has neither approved nor disapproved the offered securities.
