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Canary Capital files for spot PEPE ETF as token price drops amid bearish market sentiment

Market News
09 Apr 2026
Blockonomi
View Source
Bearish
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Canary Capital submitted an S-1 form to the SEC to launch a spot exchange-traded fund (ETF) for the PEPE memecoin, offering investors a new way to gain exposure without holding the token directly. Despite this, PEPE's price fell over 4.5%, continuing a downward trend with bearish indicators like a low long-to-short ratio and negative funding rates signaling strong selling pressure. The ETF could boost liquidity and credibility if approved, but market sentiment remains cautious as PEPE struggles to hold key support levels around $0.0000033 to $0.0000036 with a $1.5 billion market cap.

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