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

According to a report by Cointelegraph, Bill Qi, Chairman of Cypher Capital and former Global Head of Financing at Binance Labs, said: "It is not the people in the cryptocurrency circle who are pushing for the approval of ETFs now, but Wall Street companies are making every effort to achieve this goal. The main lobbyists for Ethereum ETFs will be institutional asset management companies. Launching ETFs and obtaining ETF approval is in their best interests because they are in the AUM (Asset Under Management) game and need to increase AUM by obtaining ETF approval."