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

Crypto fund manager Canary Capital has filed to launch the first U.S. exchange-traded fund (ETF) tied directly to MOG Coin, a memecoin on the Ethereum network. This marks Canary’s first foray into launching a fund to track the price of a memecoin. The investment firm formally submitted S1 registration with the US SEC on Wednesday, seeking approval for the ETF. The filing described MOG as a “memecoin,” adding that the ETF may hold up to 5% of its holdings in Ether for transaction costs, since MOG is depen ...