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

According to BlockBeats news, on March 21, 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 doing their best to achieve this goal. Ethereum The main lobbyists for ETFs will be 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 increase AUM, they need to get ETF approval." Cointelegraph)