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2h ago

Canary Capital Files for First U.S. Spot MOG ETF

The prospectus proposes a spot trust that would hold MOG directly with a small ether balance for Ethereum fees, pending SEC review.

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Overview

  • The Nov. 12 SEC filing seeks approval for a fund that tracks MOG Coin by holding the token, marking the first U.S. ETF tied to the memecoin.
  • The trust mirrors approved spot crypto ETFs, issuing and redeeming shares in large blocks backed by MOG or cash rather than using futures.
  • Because MOG runs on Ethereum, the fund may keep up to 5% of assets in ether to cover on‑chain transaction costs, according to the prospectus.
  • Canary describes MOG as a meme-driven asset with no stated on‑chain utility beyond cultural branding, with reporting placing its market value near $170 million.
  • The filing lists institutional partners including U.S. Bank as cash custodian, CSC Delaware Trust Company and U.S. Bancorp Fund Services for operations, while SEC review timing remains uncertain as Canary's spot XRP ETF is slated to begin trading on Nasdaq on Nov. 13.