Recently, the SEC's actions regarding certain ETF applications have drawn the market's attention. Although it appears to be a request to "withdraw the application," it is actually more like a procedural adjustment and does not mean that the ETF is completely without hope.

This approach is actually a common strategy used by regulatory agencies: first, to send a strong signal to the market, and then gradually relax policies. The market's initial reaction to the term "withdrawal" may be a bit tense, but this is often a normal part of the regulatory process.

It is worth noting that this approach by regulators may bring volatility to short-term market sentiment. However, in the long run, this cautious and gradual review process may actually be beneficial in establishing a more robust and reliable market environment.

For investors, it is important to stay calm and not be misled by surface phenomena. Regulatory trends are indeed important, but what should be followed more is the fundamentals of the project itself and its long-term development prospects. In this rapidly changing field, maintaining rationality and patience is often a wise choice.