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3w ago

Canary Capital Files for First U.S. Spot ETF Tied to MOG Memecoin

The proposed spot trust would hold MOG tokens directly under named institutional custody within a newly permissive U.S. crypto ETF framework.

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Canary submits mog coin etf to sec, expanding alt roster
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Overview

  • The Nov. 12 SEC filing outlines the Canary MOG ETF as a spot trust that would hold MOG directly, with up to 5% in ether to cover Ethereum network transaction costs.
  • Operational roles listed in the filing include CSC Delaware Trust Company as trustee, U.S. Bancorp Fund Services as transfer agent, and U.S. Bank N.A. as cash custodian.
  • Shares would trade on a registered exchange if approved, using authorized participants and creation/redemption baskets modeled on existing spot crypto ETF structures.
  • The application lands after regulators cleared paths for new spot crypto ETFs and following Treasury guidance on staking in ETF wrappers, with SEC review processes affected by the government shutdown timeline.
  • MOG is described as a memecoin and cultural statement on Ethereum with about a $170 million market cap and high volatility, and some reports noted a short-term price and volume jump after the filing.