Canary Capital Bets Big: Mog Coin ETF Plan Shakes Up US Crypto Markets

Wall Street's latest crypto gambit just got spicy. Canary Capital—known for high-stakes plays—is gunning for Mog Coin with a bold US ETF proposal. Here's why it matters.

Mog Mania Goes Mainstream

The meme coin that defied gravity now has institutional backing. Canary's filing signals Mog's transition from degenerate darling to regulated asset—whether purists like it or not.

The ETF Arms Race Heats Up

With Bitcoin and Ether ETFs old news, funds are scrambling for the next narrative. Canary's move pressures rivals to chase smaller altcoins—because nothing says 'innovation' like repackaging internet jokes as financial products.

What's Next?

Watch for SEC pushback (they love meme-based securities), copycat filings, and the inevitable 20% price swing on rumor alone. After all, in crypto-land, the hype cycle IS the business model.

Price Spike After Filing

Although MOG trades for a fraction of a cent and has dropped more than 80% over the past year, the ETF news triggered a quick rally. The token’s market value jumped from under $140 million to over $169 million before settling NEAR $146 million – still up around 5.5% on the day.

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The U.S. Securities and Exchange Commission is preparing a major overhaul of how it classifies cryptocurrencies.

Data shows the token, launched in July 2023, sits in just over 39,000 wallets, with the top 100 holders controlling 53% of the supply. Canary noted that the project’s backers have not outlined any real blockchain use case beyond its meme identity. The proposed ETF may also hold up to 5% in Ether to cover network fees, since MOG operates on Ethereum.

Canary Expands Altcoin ETF Lineup

The firm has been aggressively filing for crypto ETFs, including products tied to SEI and a Trump-themed memecoin. It recently launched Hedera and Litecoin funds, and an XRP ETF could debut as early as Thursday – potentially the first of its kind in the US.

The SEC is expected to resume reviewing these applications after the US government reopened this week. President Donald TRUMP signed a bill that ended a record 43-day shutdown, allowing federal agencies to restart their normal work.

Alexander Zdravkov Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a DEEP personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.

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