Former Binance Labs head: Traditional Wall Street firms are pushing for Ethereum ETF to be approved

Bill Qi, the former global financing director of Binance Labs, stated: "It is not the people within the cryptocurrency community who are pushing for the approval of ETFs, but rather Wall Street companies are making their best efforts to achieve this goal. Institutional asset management companies will be the main advocates for Ethereum ETFs. Launching ETFs and obtaining ETF approvals are in their best interests because they are playing the AUM (asset management) game and need to increase their AUM by obtaining ETF approvals."