Canary Capital Seeks SEC Approval for ETF Tracking MOG Coin
Canary Capital has submitted an application to the U.S. Securities and Exchange Commission for an ETF designed to track the market price of MOG Coin, a relatively obscure memecoin. The proposed product would let investors obtain exposure to MOG’s price moves through a traditional brokerage account, rather than buying and custodying the token itself, marking a notable step toward mainstream financial wrappers for meme-driven assets.
Approval would be significant: it could signal growing acceptance of niche crypto tokens within regulated investment vehicles and attract new institutional or retail flows into memecoin markets. At the same time, the filing will likely draw heightened regulatory scrutiny around valuation, market manipulation risks, and custody practices. The SEC’s decision timeline is uncertain, and a green light could set a precedent for similar funds tracking other unconventional crypto assets.