A new chapter in the meme coin story is unfolding on Wall Street. Canary Funds, a U.S. asset manager known for its growing lineup of crypto-related ETFs, has filed to introduce a fund that directly tracks MOG Coin — marking the token’s first appearance in a traditional investment vehicle.
- Canary Funds has filed to launch the first ETF directly tracking MOG Coin.
- The product mirrors spot Bitcoin and Ethereum ETF structures.
- CSC Delaware Trust and U.S. Bancorp Fund Services will manage operations.
- The filing follows Canary’s XRP ETF debut slated for November 13, 2025.
The filing describes a structure familiar to investors in spot Bitcoin and Ethereum ETFs: a regulated trust that holds the underlying digital asset, with shares trading on a national exchange. The proposed product, titled Canary MOG ETF, aims to reflect the real-time market performance of MOG by holding the token itself rather than using futures or derivatives.
While many still associate MOG with crypto’s meme culture, Canary Funds’ initiative signals that even humor-driven digital assets are now attracting institutional frameworks and regulatory filings once reserved for blue-chip cryptocurrencies.
Growing Appetite for Unconventional Assets
ETF analyst James Seyffart, who first highlighted the filing, noted that the product mirrors structures already approved for other spot crypto funds. This move follows Canary’s earlier submission for an XRP ETF, set to debut on November 13, 2025 — a sign that the firm is actively expanding its reach across different blockchain ecosystems.
The trust’s operations will involve several established financial players. CSC Delaware Trust Company will manage its fiduciary responsibilities, while U.S. Bancorp Fund Services will serve as the transfer agent. A designated custodian — yet to be disclosed — will store the MOG holdings on behalf of shareholders once regulatory approval is granted.
Institutional Infrastructure Behind the Memes
The sponsor of the new product, Canary Capital Group LLC, has already gained traction in the digital asset arena after launching an HBAR ETF earlier this year. That rollout coincided with a surge in Hedera’s market activity, underscoring how ETF listings can influence token visibility and liquidity.
The MOG ETF’s valuation method will rely on an index compiled from several leading trading venues, ensuring accurate price discovery across global markets. The setup mirrors those used by spot Bitcoin and Ethereum ETFs that have seen growing acceptance among institutional investors.
Memecoins Step Into the Spotlight
Canary’s latest initiative reflects the broader evolution of crypto investing, where tokens that began as viral internet phenomena are gradually entering the regulated financial mainstream. If approved, the MOG ETF would give retail and institutional investors alike a way to gain exposure to the meme coin without directly buying or holding it.
For Canary Funds, the filing strengthens its image as one of the early asset managers embracing the convergence of traditional finance and internet-driven crypto culture — and could mark the start of a new trend in meme-based investment products.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/canary-funds-expands-crypto-offerings-with-first-ever-mog-etf/