According to Cointelegraph, 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.
The main lobbyists for the Ethereum ETF 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 .”
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