Overview
- Canary Capital submitted a registration statement on Wednesday to launch an ETF designed to track MOG Coin’s price.
- The prospectus describes MOG as a memecoin with no announced on‑chain utility beyond cultural branding.
- Because MOG operates on Ethereum, the fund may hold up to 5% of assets in ether for transaction fees, and U.S. Bank would serve as cash custodian.
- SEC review of crypto ETF applications remains backlogged and is expected to resume once the government reopens, according to Reuters.
- Canary has previously launched Litecoin and HBAR ETFs and has an XRP ETF slated to list this week, while Blockonomi reports MOG’s market value at about $170 million.