In the ever-vibrant NFT market, a rare “Hoodie” attribute CryptoPunk has fetched an impressive $628,000 in a recent transaction, underscoring the enduring appeal of these pixelated icons from the Larva Labs collection.
CryptoPunks with the Hoodie trait—depicting a simple blue hoodie over the character’s head—have long been among the most coveted subsets due to their scarcity only about 3% of the 10,000 total punks feature it and cultural cachet in the crypto art world.
This sale adds to a legacy of high-profile Hoodie Punk trades, including past deals exceeding $2 million each during the 2021 bull run. While exact details on the specific Punk ID and buyer weren’t immediately disclosed, such transactions typically occur on platforms like OpenSea, reflecting renewed interest amid broader NFT market stabilization in late 2025.
Register for Tekedia Mini-MBA edition 19 (Feb 9 – May 2, 2026): big discounts for early bird.
Tekedia AI in Business Masterclass opens registrations.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register for Tekedia AI Lab: From Technical Design to Deployment (next edition begins Jan 24 2026).
Canary Capital Breaks Ground with MOG ETF Filing
Hot on the heels of spot Bitcoin and Ethereum ETFs, asset manager Canary Capital has taken a bold step into meme coin territory by filing for the first-ever U.S. exchange-traded fund (ETF) tracking MOG Coin ($MOG), a cat-themed memecoin on the Ethereum blockchain.
The S-1 registration submitted to the SEC on November 12, 2025, proposes the Canary MOG ETF as a spot product that would hold actual MOG tokens, allowing traditional investors to gain exposure through brokerage accounts without directly managing crypto wallets.
MOG, launched in 2023 as a playful “mogging” meme— internet slang for outshining others, lacks utility beyond community hype but has built a fervent following with over $500 million in market cap at filing time.
The ETF’s structure mirrors approved crypto funds: up to 5% in ETH for transaction fees, custodied by institutions like U.S. Bancorp, and designed to track MOG’s spot price minus fees.
This filing follows Canary’s aggressive altcoin push, including recent approvals for XRP and HBAR ETFs, signaling regulators’ growing openness to non-mainstream tokens. Post-announcement, MOG’s price surged ~15% intraday to around $0.0000025, highlighting the market’s enthusiasm for ETF-driven liquidity.
Approval isn’t guaranteed—meme coins’ volatility and lack of fundamentals could draw scrutiny—but if greenlit, it could pave the way for DOGE or SHIB equivalents, further blurring lines between TradFi and crypto.
Implications of the CryptoPunk Hoodie Sale at $628K
This transaction, while not shattering all-time records (e.g., a CryptoPunk sold for $56.3 million in 2024), signals a subtle thaw in the NFT market’s prolonged winter. CryptoPunks remain a prestige asset class, with rare traits like the Hoodie commanding premiums even as overall NFT trading volumes have plummeted 90%+ from 2021 peaks.
This sale—equivalent to roughly 250 ETH at current prices—highlights sustained demand from high-net-worth collectors viewing them as “digital trophies” rather than speculative flips. It contrasts sharply with recent high-profile losses, like the $10M hit on an Alien Punk sale in April 2025, underscoring that scarcity and cultural cachet can buffer against ETH’s volatility down ~60% YTD.
In a sector where floor prices for Punks hover around $65K down 43% in Q3 2025, a $628K trade injects optimism, potentially lifting secondary volumes Punks generated $16.7M in the last 30 days pre-sale.
It could encourage “diamond-hand” holders to list more inventory, improving liquidity on platforms like OpenSea, but risks inflating short-term hype without fundamentals—echoing past wash trades that briefly spiked prices via flash loans.
This reinforces Punks’ role as a benchmark; similar sales often correlate with upticks in related projects. However, with NFT activity at historic lows, it won’t single-handedly revive the market—regulatory clarity on digital assets and integrations like Visa’s USDC pilots could amplify it.
For investors, it’s a reminder: Treat these as illiquid art, not quick trades, given the 57% ETH drop exacerbating past losses. In short, it’s a win for NFT OGs, proving enduring value in rarity, but the sector needs macro tailwinds to scale.
Filing for the first U.S. spot ETF on a memecoin like MOG— a $150M market cap Ethereum token born from “mogging” memes—pushes the boundaries of TradFi-crypto convergence.
With over 155 crypto ETF applications pending, this isn’t isolated; it’s part of a wave following SEC’s September 2025 generic listing standards. Approval would let retail and institutional investors buy MOG exposure via brokerage accounts (e.g., Fidelity), bypassing wallets and gas fees—mirroring Bitcoin/ETH ETFs that drew $50B+ inflows.
The structure direct MOG custody, up to 5% ETH for fees, U.S. Bancorp oversight democratizes a “cultural artifact” with no utility beyond hype, potentially exploding its holder base currently 39K wallets, 53% whale-controlled.
Post-filing, MOG spiked 15-20% to $0.0000025, with trading volume surging—hinting at “ETF alpha” for low-cap alts. Memecoins down 78% YTD could see a renaissance; if greenlit, it paves the way for DOGE/SHIB/PEPE funds, blending viral trends with regulated products.
Canary’s altcoin spree XRP ETF launching Nov 13, HBAR/LTC live reflects a strategy targeting niches, but MOG’s ranking (#339) and volatility raise red flags—expect scrutiny on manipulation risks.
Fuels liquidity $524M BTC ETF inflows Tuesday alone, but amplifies speculation in a risk-on environment, with Trump’s crypto-friendly SEC pick (Paul Atkins) accelerating reviews post-shutdown.
No guarantees—meme coins’ “social sentiment” pricing lacks Howey Test clarity, and SEC could demand more on decentralization. If approved potentially Q1 2026, it blurs lines between gambling and investing, drawing in normies but risking crashes.
For the ecosystem, it’s bullish: Elevates Ethereum’s role, spurs competitors (e.g., Solana memes), and could hit $500M+ cap on hype alone. Overall, these events spotlight crypto’s maturation: NFTs as legacy art, memecoins as mainstream bets. Bullish for adoption, but volatility reigns—position accordingly.