On August 25, Bloomberg ETF analyst Eric Balchunas revealed on social media: "A new filing for the 'Canary American-Made Crypto ETF' (S-1 document)—this spot product will only hold cryptocurrencies that were entirely invented in the United States, are primarily mined in the U.S., or have their main operations based in the U.S. As we previously predicted, due to the success of this category, ETFs are now ready to experiment with every imaginable combination."