{"id":70320,"date":"2026-04-10T09:09:33","date_gmt":"2026-04-10T02:09:33","guid":{"rendered":"https:\/\/hbbgroup.net\/pepe-may-follow-dogecoin-to-wall-street-but-etf-investors-arent-buying-meme-hype\/"},"modified":"2026-04-10T09:09:33","modified_gmt":"2026-04-10T02:09:33","slug":"pepe-may-follow-dogecoin-to-wall-street-but-etf-investors-arent-buying-meme-hype","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/pepe-may-follow-dogecoin-to-wall-street-but-etf-investors-arent-buying-meme-hype\/","title":{"rendered":"Pepe May Follow Dogecoin to Wall Street\u2014But ETF Investors Aren&#8217;t Buying Meme Hype"},"content":{"rendered":"<div>\n<div>\n<h4 color=\"#333\">In brief<\/h4>\n<ul>\n<li>Canary Capital filed an application Wednesday for a Pepe ETF, yet the meme coin\u2019s price reaction was muted.<\/li>\n<li>Dogecoin is ranked 17th out of all crypto ETFs that CoinShares tracks, generating $13 million worth of year-to-date inflows.<\/li>\n<li>\u201cThey\u2019re just not popular with investors,\u201d CoinShares\u2019 James Butterfill told <i>Decrypt<\/i>, in reference to crypto ETFs outside of Bitcoin, Ethereum, XRP, and Solana.<\/li>\n<\/ul>\n<\/div>\n<p><span>Canary Capital thrust <a href=\"https:\/\/decrypt.co\/resources\/what-is-pepecoin-pepe\" target=\"_blank\">Pepe<\/a> into the limelight on Wednesday with an <\/span><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2109686\/000199937126007908\/canarypepe-s1.htm\" target=\"_blank\"><span>application<\/span><\/a><span> for an exchange-traded fund that tracks the meme coin\u2019s price, but the token\u2019s muted reaction may serve as the latest sign of Wall Street\u2019s tepid appetite for assets that trade on vibes.<\/span><\/p>\n<p><span>On Thursday, Pepe changed hands around $0.00000359, up about 0.6% over the last day, according to <\/span><a href=\"https:\/\/decrypt.co\/price\/pepe\" target=\"_blank\"><span>CoinGecko<\/span><\/a><span>. The day before, trading volume rose 10% to $432 million.<\/span><\/p>\n<p><span>Not long ago, meme coins served as key growth drivers for firms like Wintermute. Yet the crypto market maker acknowledged last year that its prediction of a core asset manager debuting a meme coin ETF, particularly <\/span><a href=\"https:\/\/decrypt.co\/resources\/dogecoin-crypto-cryptocurrency-guide-how-to-buy-doge\" target=\"_blank\"><span>Dogecoin<\/span><\/a><span>, was intended to be <\/span><a href=\"https:\/\/decrypt.co\/301428\/dogecoin-etf-in-2025-possibility-wintermute\" target=\"_blank\"><span>tongue-in-cheek<\/span><\/a><span>.<\/span><\/p>\n<p><span>Today, four crypto asset managers offer U.S.-listed Dogecoin ETFs. Still, it remains \u201cvery hard for institutional investors to construct a credible investment rationale around something like Doge, which is perhaps more geared towards the retail audience,\u201d James Butterfill, head of research at crypto asset manager CoinShares, told <\/span><i><span>Decrypt<\/span><\/i><span>.<\/span><\/p>\n<p><span>Dogecoin is ranked 17th out of all crypto ETFs that CoinShares tracks, generating $13 million worth of year-to-date inflows. Outside of ETFs tracking <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-is-bitcoin-four-minute-instant-guide-explainer\" target=\"_blank\"><span>Bitcoin<\/span><\/a><span>, <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-is-ethereum-quickly-explained-four-minute-guide\" target=\"_blank\"><span>Ethereum<\/span><\/a><span>, <\/span><a href=\"https:\/\/decrypt.co\/resources\/what-is-solana-a-scalable-decentralized-network-for-dapps\" target=\"_blank\"><span>Solana<\/span><\/a><span>, and <\/span><a href=\"https:\/\/decrypt.co\/resources\/xrp\" target=\"_blank\"><span>XRP<\/span><\/a><span>, Butterfill noted that ETFs tied to other altcoins represent 9% of total assets under management.<\/span><\/p>\n<p><span>\u201cThey\u2019re just not popular with investors,\u201d he said. \u201cIt\u2019s the big four and not much else.\u201d<\/span><\/p>\n<p><i><span>Decrypt <\/span><\/i><span>has reached out to Canary for comment.<\/span><\/p>\n<p><span>SEC Chair Paul Atkins <\/span><a href=\"https:\/\/decrypt.co\/348319\/sec-chair-paul-atkins-reveals-crypto-tokens-he-thinks-securities\" target=\"_blank\"><span>indicated<\/span><\/a><span> last November that most cryptocurrencies, including meme coins, shouldn\u2019t be treated as securities. That sentiment was <\/span><a href=\"https:\/\/decrypt.co\/361446\/sec-most-crypto-assets-not-securities-staking-airdrops-bitcoin-mining\" target=\"_blank\"><span>bolstered<\/span><\/a><span> by SEC guidance published last month, which categorized meme coins as a form of \u201cdigital collectibles.\u201d<\/span><\/p>\n<p><span>Under <\/span><a href=\"https:\/\/decrypt.co\/340094\/sec-clears-path-waves-of-crypto-etfs-new-listing-standards\" target=\"_blank\"><span>generic listing standards<\/span><\/a><span> for crypto ETFs established last year, exchanges are able to list commodity-based ETFs without requiring case-by-case approval. Among key factors, digital assets underlying them have to have a six-month history of regulated futures trading.<\/span><\/p>\n<p><span>Pepe futures currently trade on crypto exchange Kraken. Canary\u2019s filing noted that contracts for the meme coin \u201care typically traded on regulated or registered trading venues.\u201d<\/span><\/p>\n<p><span>Canary has filed applications for ETFs that track other meme coins, including Mog, Pudgy Penguins&#8217; PENGU, and President Donald Trump\u2019s meme coin, <a href=\"https:\/\/decrypt.co\/resources\/what-is-trump-donald-trumps-official-solana-meme-coin\" target=\"_blank\">TRUMP<\/a>. Bloomberg Senior ETF Analyst Eric Balchunas <\/span><a href=\"https:\/\/decrypt.co\/336895\/canary-files-first-trump-meme-coin-spot-etf\" target=\"_blank\"><span>expressed<\/span><\/a><span> skepticism that the Trump-related ETF would pass when Canary\u2019s application landed on the SEC\u2019s desk last year, citing a lack of futures trading.<\/span><\/p>\n<p><span>Balchunas once <\/span><a href=\"https:\/\/decrypt.co\/291341\/dogecoin-etfs-could-happen-analysts-say\" target=\"_blank\"><span>noted<\/span><\/a><span> to <\/span><i><span>Decrypt<\/span><\/i><span> that the ETF industry is famous for \u201cthrowing spaghetti at the wall.\u201d Meanwhile, Butterfill described a flurry of filings across ETFs from some issuers on Thursday as a \u201cmachine gun approach.\u201d<\/span><\/p>\n<p><span>Tuttle Capital Management, in some ways, has taken further steps to appeal to degens. In January, the ETF issuer filed applications for leveraged TRUMP, <a href=\"https:\/\/decrypt.co\/resources\/what-is-bonk-solanas-dog-themed-community-meme-coin\" target=\"_blank\">BONK<\/a>, and MELANIA ETFs. But the SEC hasn\u2019t offered a final verdict on those applications yet.<\/span><\/p>\n<div>\n<h3>Daily Debrief Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In brief Canary Capital filed an application Wednesday for a Pepe ETF, yet the meme coin\u2019s price reaction was muted. [&hellip;]<\/p>","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-70320","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/70320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=70320"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/70320\/revisions"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=70320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=70320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=70320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}