Canary Capital to Launch First Memecoin ETF to Track Price of MOG Coin

Core Insights - Canary Capital has filed to launch the first U.S. ETF directly tied to MOG Coin, a memecoin on the Ethereum network, marking its first attempt to track a memecoin's price [1] - The ETF may hold up to 5% of its assets in Ether for transaction costs, as MOG relies on the Ethereum network [2] - The SEC is expected to re-engage on digital asset ETFs following the end of the U.S. government shutdown, with several XRP-linked ETFs anticipated to launch soon [2] Company Developments - Canary Capital has previously filed for various crypto ETFs, including those tracking Litecoin and HBAR, and is set to list another ETF for XRP [3] - The MOG ETF has garnered significant community attention, highlighting the growing intersection of memecoins and regulated finance [4] Market Reaction - MOG Coin, ranked 339th in the crypto market with a market cap of approximately $170 million, experienced an 8.44% price increase in the last 24 hours following the ETF filing [5] - The filing led to a 155% surge in 24-hour trading volume, indicating speculative interest in the memecoin [6]