Canary Capital, a digital asset management firm, has filed to launch a mog coin (MOG) exchange-traded fund (ETF), a memecoin whose image is a smiling kitten.
Filing Form S-1 with the United States Securities and Exchange Commission (SEC) It occurred hours before the launch of the XRP ETF, Ripple Labs’ cryptocurrency.
It is worth remembering that, at the end of October, the firm launched ETFs based on Litecoin (LTC) and Hedera (HBAR) on the market, as reported by CriptoNoticias.
With this new presentation, Canary continues with its strategy of expanding its offering of financial products based on digital assets.
He document Filing with the SEC describes the asset as a “community-driven brand.” It adds that “MOG is considered by some to be both a cultural statement and a digital collector’s item.”
Currently, Mog coin is outside the top 100 most valuable assets on the market in terms of market capitalization, with a value of 150.5 million dollars.
After the news broke, MOG reached a peak of $0.0000043, as seen in the following chart:
The approval of a regulated product could increase the visibility of MOG among traditional investors, in addition to facilitating the participation of corporate capital by functioning in a similar way to the purchase of shares.
For this reason, the official MOG account celebrated Canary’s presentation with the following post: “MOG is institutional.”