Wall Street Firms Seek to Profit from Bitcoin While Slowing Decentralization

Spot bitcoin ETFs are a money grab by Wall Street to profit from crypto while delaying the shift to decentralized finance (DeFi)
Financial firms previously tried to kill crypto but now see bitcoin and crypto as a threat to their business models
Spot bitcoin ETFs keep assets centralized rather than allowing people to self-custody, which reduces fees and gives more control
Bank executives know crypto represents massive change like earlier digitization waves in finance but want to slow the transition
Leaders see crypto leading to lower fees, more access, and greater control like previous innovations that disrupted financial industries