Canary Capital has taken another step in its crypto exchange-traded fund expansion, filing with the Securities and Exchange Commission for a new product tied to a memecoin.
Summary
- Canary Capital filed to launch the first U.S. spot ETF tracking MOG Coin.
- Filing coincides with the launch of Canary’s spot XRP ETF on Nasdaq.
- New Treasury guidelines open path for staking in Solana and Ethereum ETFs.
Canary Capital Group LLC has filed an application with the U.S. SEC to launch the Canary MOG ETF, a fund that would track the price of MOG Coin.
The filing, made on Nov. 12, marks a significant attempt to list a U.S. ETF tied directly to a memecoin. The fund will hold actual Mog Coin (MOG) tokens in custody rather than using futures contracts.
Inside the Canary Capital’s MOG ETF filing
The ETF will operate as a trust, similar to approved Bitcoin and Ethereum spot funds, giving investors regulated access to MOG through regular brokerage accounts. Its goal is to reflect MOG’s spot market price while accounting for management costs.
MOG is defined as an Ethereum token that is socially driven and tied to meme culture rather than traditional blockchain functionality. According to the filing, the ETF will issue and redeem shares in large blocks backed by MOG or equivalent cash, making it accessible to both institutions and retail traders.
Since the MOG ETF is not a traditional investment fund, it is exempt from the 1940 Investment Company Act. Rather, it will adhere to the same framework as other spot crypto ETFs.
Crypto ETF momentum grows
The MOG ETF filing comes as the U.S. crypto ETF market accelerates following recent regulatory activity. Canary’s XRP ETF is set to begin trading on Nasdaq on Nov. 13, marking the first U.S. spot XRP ETF under the Securities Act of 1933. The fund offers direct exposure to XRP without futures contracts and charges a management fee of 0.50%.
Elsewhere, Solana ETFs from Bitwise and Grayscale, launched in October, have seen strong demand, now holding over $500 million in assets. The U.S. Treasury’s new Revenue Procedure 2025-31, issued on Nov. 10, provides a path for spot crypto ETFs to stake proof-of-stake assets like SOL and ETH. This might offer potential yields of 5–7%.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP Lawyer Warns CLARITY Act Could Lose Momentum if Summer Delays Persist
The CLARITY Act's chances of passing depend on timely legislative action, as summer distractions and midterm politics could hinder progress. Delays may complicate its path, especially if political dynamics shift post-election.
CryptoNewsFlash1h ago
XRP Stabilizes Near Key Levels Amid Fed Pressure and Rule Shift
Key Insights
XRP stabilized near $1.31 as macroeconomic pressures and declining liquidity combined to limit recovery momentum and increase short-term volatility risks significantly.
Proposed stablecoin regulations favor utility models, positioning RLUSD for growth while reducing incentives t
CryptoNewsLand1h ago
XRP Eyes $1.60 as April History Shapes Market Expectations
Key Insights:
XRP historical April data shows sharp gains and losses, with 2021 marking a 180% surge while recent years reflect declining monthly performance trends.
Current price consolidation between $1.28 and $1.36 suggests reduced volatility, signaling a potential breakout as traders mon
CryptoNewsLand2h ago
SBI Ripple Asia completes development of an XRP Ledger token issuance platform and obtains qualification as a Japanese prepaid payment tool issuer
Gate News message, April 8, SBI Ripple Asia has completed development of a token issuance platform based on the XRP Ledger, and has registered in Japan as a prepaid payment instrument issuer. The platform enables businesses to issue tokenized payment instruments.
GateNews5h ago
Analyst Says the Lower XRP Goes the More Bullish the Breakout as Experts Remain Unsure About XRP Recovery
Analyst says the lower XRP goes the more bullish the breakout.
Other experts remain unsure about an XRP recovery.
Can the price of XRP set a new ATH this year?
The crypto market sees renewed hope and improved anticipation of a bullish recovery rally as the price of BTC just reclaimed pri
CryptoNewsLand6h ago
SBI Ripple Asia launches an XRPL token issuance platform, advancing the implementation of compliant blockchain finance
SBI Ripple Asia announced that its token issuance platform based on the XRP Ledger has officially launched, marking an important application of blockchain in compliant financial services. The platform enables businesses to manage tokens directly on-chain and complies with regulatory requirements, improving payment and loyalty mechanisms. In the future, SBI will also optimize cross-border payments between Japan and Korea, driving XRPL’s adoption in the real economy.
GateNews8h ago
