Firm Behind First U.S. Spot XRP ETF Files for MOG Fund

Canary Capital, the firm preparing to launch the first U.S. spot XRP ETF, has filed for a new exchange-traded fund focused on MOG Coin, a cat-themed memecoin rooted in TikTok culture. The proposed Canary MOG ETF aims to provide direct price exposure to MOG, which is ranked 339th by market value and described in the filing as both a memecoin and a "cultural statement." This move aligns with Canary's strategy of building a long-tail product suite, following recent launches of Litecoin and HBAR ETFs. The filing comes as the broader memecoin sector has seen significant price declines, with MOG down 78% over the past year. The firm is leveraging updated SEC guidance, facilitated by regulatory shifts under President Trump's appointees, that allows specialized ETFs to launch without direct agency sign-off during the government shutdown, potentially bringing obscure meme assets into regulated investment wrappers.

(Source：CoinDesk)