[U.S. SEC Official: Acknowledges Missteps in Crypto ETF Regulation, Will Establish a More Orderly Approval Mechanism] Brian Daly, head of the U.S. SEC's Division of Investment Management, stated on the 'Trillions' program that the SEC acknowledges it has 'handled poorly' in the past regarding cryptocurrency ETF approvals, which has undermined industry trust. The SEC is currently working to establish a more orderly and asset-neutral approval process to handle approximately 200 ETF applications per month, including innovative products like prediction markets. Daly emphasized that the SEC aims to support financial innovation while protecting investors and is considering introducing a confidential filing mechanism to prevent product ideas from being quickly copied.