Canary Capital is expanding its push into niche digital assets with a new filing for an exchange-traded fund tied to MOG Coin, a cat-themed memecoin originating from TikTok culture.

The firm submitted a registration statement Wednesday for the Canary MOG ETF, which would provide direct exposure to MOG held by the trust, minus operating costs.

MOG sits well outside the major-cap universe, ranking 339th by market capitalization at roughly $170 million. Built on Ethereum, the token is described in Canary’s filing as both a memecoin and a “cultural statement” — a nod to its roots in the “Mog” meme and a community that treats the asset as part collectible, part social identity.

Market performance has been far less playful. MOG has dropped 78% over the past year as the broader memecoin sector continues to deflate from 2024’s peak.

The new filing underscores Canary’s strategy of developing a long-tail suite of crypto products. The firm rolled out ETFs linked to Litecoin and HBAR last month and is set to debut a spot XRP ETF on Thursday, taking advantage of updated SEC guidance that allows new products to launch during the U.S. government shutdown without direct agency approval.

Regulatory momentum has sped up under President Donald Trump, whose appointment of crypto-friendly regulator Paul Atkins to lead the SEC has ushered in new listing standards for specialized digital asset ETFs — a notable shift from the agency’s stance just two years ago.

If approved, the MOG ETF would join the latest wave of hyper-targeted crypto funds, wrapping a niche meme token in a regulated structure increasingly favored by retail brokers and wealth managers.