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
Rakuten Pay Integrates XRP for 44 Million Japanese Users, Enables Payments at 5M+ Merchants
Rakuten Pay has integrated XRP, enabling 44 million users to spend the cryptocurrency at over 5 million merchants in Japan. This integration highlights a shift from trading cryptocurrencies to everyday payments, supported by Japan's favorable regulations and fintech infrastructure.
GateNews19h ago
MoonPay Hints at Potential Ripple Collaboration With XRP-Themed Post
MoonPay's recent social media post featuring an XRP theme has sparked speculation about a potential partnership with Ripple. As both companies focus on enhancing cryptocurrency infrastructure, the implications of this possible collaboration, along with Ripple's initiatives in institutional finance, highlight a shift towards practical applications in the crypto space.
GateNews19h ago
Gate’s “Crazy Wednesday” is live with a hot launch. Complete tasks to win XRP and Glenfiddich whisky. For USDT savings, earn up to 100% APY. For BTC/ETH/SOL staking, earn up to 16% mining APY.
Gate News message, according to Gate’s official announcement on April 15, 2026
Gate launches a “Crazy Wednesday” campaign, running from April 15, 2026 at 14:00 to April 19, 2026 at 16:00 (UTC+8). Users complete multiple tasks to unlock mystery boxes, with a chance to win XRP tokens and Glenfiddich whisky. The mystery box tasks include multiple categories such as flash swaps, spot, and futures trading, as well as top-ups, invitations, and VIP upgrades, and each tier corresponds to a different number of mystery box openings.
Campaign Two launches a USDT wealth-management product, with a 14-day fixed-term annualized yield of 6%. New users can also participate in a 3-day product offering 100% annualized yield. In addition, Yu’e Bao also offers multi-currency wealth-management options such as USAT, USDD, 0G, and APT, with annualized returns of up to 300%. Campaign Three introduces a boosted rewards policy for staking users, offering up to a 16% annualized return for staking BTC, ETH, and SOL; for SOL staking, staking 0–1 coins can yield up to 16% annualized.
GateAnnouncement04-15 04:27
XRP Today News: CLARITY Act Pushes Through in May, Standard Chartered Bank Turns Bullish on $8
Ripple CEO Garlinghouse confirmed at the summit that the CLARITY Act’s goal for passage is by the end of May, and said that the controversy surrounding stablecoin yield rates is nearing resolution. If the bill passes, XRP is expected to rise to $5–$10; otherwise, it could fall back to $1.2. The bill’s passage would create a regulatory framework for the digital asset market, clarify XRP’s classification as a commodity, and reduce compliance barriers for institutional investors.
MarketWhisper04-15 02:58
Rakuten Wallet Integrates XRP for Payments Across 5M+ Merchants in Japan
Rakuten Wallet has launched XRP as a payment method, allowing users to buy XRP with Rakuten Points and spend it at millions of merchants in Japan. This integration expands XRP's reach to a vast, non-crypto user base within Rakuten's extensive ecosystem.
GateNews04-15 01:16
