Issuer of First U.S. Spot XRP ETF Seeks Approval for MOG Fund

Canary Capital is broadening its lineup of niche crypto investment products with a new ETF filing tied to MOG Coin, a cat-themed memecoin that emerged from TikTok-driven internet culture.

The asset manager submitted a registration statement Wednesday for the Canary MOG ETF, which would track the price of MOG held by the trust, minus management fees.

MOG remains a small-cap token, ranked 339th with a market value of about $170 million. Launched on Ethereum, it is characterized in Canary’s filing as both a memecoin and a “cultural statement,” reflecting the “Mog” meme and a community that treats the token as part digital collectible, part online identity.

The token’s performance has been far less spirited: MOG has declined 78% over the past 12 months as the memecoin sector continues to retrace from last year’s highs.

The filing highlights Canary’s strategy of building out a broad range of long-tail crypto ETFs. The firm recently introduced funds tied to Litecoin and HBAR and is set to list a spot XRP ETF on Thursday, taking advantage of updated SEC procedures that allow new products to launch during the government shutdown without direct sign-off.

Regulatory progress has accelerated under President Donald Trump, whose appointment of crypto-aligned regulator Paul Atkins to lead the SEC has ushered in new listing pathways for specialized digital asset ETFs — a significant departure from the agency’s stance just two years ago.

If approved, the MOG ETF would join a growing wave of hyper-targeted crypto products, wrapping a fringe meme asset in a regulated structure increasingly sought by brokerage platforms and wealth advisors.

Whether investors show interest remains uncertain, but the filing suggests issuers believe meme culture still carries enough weight to support a dedicated ETF.

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