Crypto fund manager Canary Capital has taken a significant step toward integrating memecoins into regulated finance by filing an S1 registration with the U.S. Securities and Exchange Commission (SEC) for the first-ever U.S. Exchange-Traded Fund (ETF) directly tracking the price of MOG Coin.
Key Points:
- First Memecoin ETF: This marks Canary Capital's inaugural attempt to launch a fund tied to a memecoin.
- Ethereum Dependency: Since MOG Coin is based on Ethereum, the ETF filing indicates that up to 5% of its holdings may be in Ether to cover transaction costs.
- Regulator Focus: The filing comes as the SEC is expected to ramp up engagement on digital asset ETFs, following its recent clearance for dozens of spot ETFs linked to cryptocurrencies like Solana and Dogecoin.
- Community-Driven Asset: The filing explicitly notes that MOG Coin is "driven primarily by online popularity, cultural relevance and social sentiment, rather than by underlying technological utility."
- Market Impact: The news acted as a catalyst, causing MOG Coin's price to surge by 8.44% and its 24-hour trading volume to spike by 155%, highlighting significant speculative interest.
This move underscores the growing acceptance of memecoins, which are moving closer to the world of regulated financial products despite their lack of traditional utility.
November 2025, Cryptoniteuae