Canary Capital Files for Spot MOG ETF as XRP Fund Lists on Nasdaq
Canary Capital Group LLC has submitted an application to the U.S. Securities and Exchange Commission for a spot ETF linked to memecoin MOG, a noteworthy pivot as issuers push beyond major-cap crypto into more speculative token classes. A MOG-linked ETF would be one of the first products directly tied to a memecoin, signaling issuers' belief in sustained retail demand, though approval remains uncertain given the SEC's historical scrutiny of novel crypto products.
The filing arrives as an XRP-focused fund has started trading on Nasdaq, underscoring continued institutionalization of crypto exposure through traditional markets. Together these developments point to broader product diversity for investors and potentially greater liquidity for underlying tokens, but they also bring familiar cautions: heightened volatility and evolving regulatory risk. Market participants will be watching SEC feedback and initial trading flows for signs of investor appetite and longer-term viability.