$MOG The first US spot XRP ETF company has filed an MOG fund application

Crypto界网 reports:
Canary Capital is expanding its investments in niche crypto assets, having recently submitted an ETF application related to MOG Coin. MOG Coin is a cat-themed meme coin born from TikTok culture.
The company filed a registration statement for the Canary MOG ETF on Wednesday, aiming to provide direct price exposure to MOG held in trust, net of operating expenses.
MOG's market cap is far below that of large-cap stocks, ranking only 339th by market cap, with an estimated value of about $170 million. The token is issued on Ethereum, and Canary's documents describe it as a “meme coin” and a “cultural declaration,” reflecting its origins from the “Mog” meme and the community that views the asset as a digital collectible and social identity symbol.

— James Seyffart (@JSeyff) November 12, 2025
However, the price reflects a more severe situation—over the past year, as the entire meme coin industry retreated from its 2024 highs, MOG's price has fallen 78%.

This document indicates Canary's strategy of building a long-tail product portfolio.
Last month, the company launched ETFs linked to Litecoin and HBAR. Later this Thursday, the company will launch a pure spot XRP ETF, leveraging the SEC's updated guidance, which allows new products to be listed without direct approval from regulators during a government shutdown.

President Donald Trump appointed Paul Atkins, a regulator supportive of cryptocurrencies, to lead the agency, accelerating the development of rules related to digital assets and facilitating the approval of new standards for professional ETFs—marking a significant shift from the SEC's stance two years ago.

If approved, the MOG ETF will add another layer to the current wave of highly specific crypto exposure products, bringing a lesser-known meme asset into a regulated wrapper increasingly favored by retail brokers and wealth management platforms.

Whether demand can be realized remains another question—but this document indicates that issuers are betting that meme culture still has enough staying power to support its own ticker symbol.