Canary Capital Seeks Approval for Spot MOG ETF
Canary Capital Group LLC has submitted a new filing to the U.S. Securities and Exchange Commission seeking approval for the Canary MOG ETF, a spot exchange-traded product that would hold MOG Coin directly.
The November 12 submission marks one of the earliest attempts to list a U.S. regulated fund tied to a memecoin, expanding the current wave of crypto ETF activity. The ETF would function as a trust and allow investors to gain exposure to MOG through standard brokerage accounts without needing to hold the token themselves.
How the Proposed MOG ETF Would Operate
The filing outlines a structure similar to existing Bitcoin and Ethereum spot ETFs. The trust would issue and redeem shares in large blocks and hold physical MOG tokens or equivalent cash. Its stated objective is to track the price of MOG in the spot market while adjusting for operating expenses.
MOG is described as an Ethereum-based token associated with social communities and meme culture rather than utility driven blockchain mechanics. Despite this, the trust would follow the same regulatory pathway used by other spot crypto ETFs that operate outside the 1940 Investment Company Act.
If approved, the MOG ETF would open a regulated channel to a memecoin market that has historically operated only through crypto exchanges.
ETF Market Grows as Canary Expands Its Lineup
The MOG ETF filing comes as Canary Capital expands its broader ETF strategy. The firm’s spot XRP ETF begins trading on Nasdaq on November 13 under the Securities Act of 1933. This product provides direct exposure to XRP with a management fee of 0.50 percent.
At the same time, demand for other crypto ETFs continues to rise. Spot Solana ETFs from Bitwise and Grayscale, launched in October, now hold more than 500 million dollars in combined assets, showing strong institutional and retail uptake.
Regulatory Shifts Support New ETF Categories
The latest wave of filings follows new federal guidance. A Treasury release known as Revenue Procedure 2025-31 introduced rules enabling spot crypto ETFs to participate in staking for proof of stake networks such as Solana and Ethereum.
Under the new framework, staking rewards can be passed directly to investors. Analysts estimate potential yields of 5 to 7 percent for networks like Solana, creating new incentives for issuers and investors while expanding the types of crypto assets eligible for exchange-traded products.
The evolving regulatory landscape suggests a wider range of crypto ETFs could emerge as agencies refine rules around custody, taxation, and staking operations.
