SEC finally admitted they messed up before, and now they want to regain trust. But under the pressure of 200 applications per month, can the confidential submission mechanism save the day?

CoinWorld News, Bloomberg ETF analyst Eric Balchunas cited Brian Daly from the SEC's Division of Investment Management, stating that the SEC believes its previous mishandling of cryptocurrency regulation has damaged market trust and aims to restore trust by establishing a more orderly approval process. Currently, the SEC receives approximately 200 ETF applications per month, including new products such as prediction markets. Daly emphasized that the SEC supports innovation while fulfilling its investor protection responsibilities, does not want approval efficiency to hinder the launch of new products, and is researching the establishment of a more comprehensive approval mechanism, including considering allowing confidential submissions for some ETF applications to protect innovation and prevent copycat applications.