Former Binance Labs head: Traditional Wall Street firms are pushing for Ethereum ETF approval

Odaily News Bill Qi, chairman of Cypher Capital and former global head of financing at Binance Labs, said: “It is not people in the cryptocurrency circle pushing for the approval of ETFs, but Wall Street companies trying their best to achieve this goal. The main lobbyist for the Ethereum ETF It will be the institutional asset managers. It is in their best interest to launch an ETF and get ETF approval because they are in the AUM (assets under management) game and in order to grow AUM they need to get ETF approval.” (Cointelegraph)