That statement definitely makes sense form the view of big banks and institution in my opinion. One of the biggest topics of the world in the last 10 years or so is the climate change and the protection of the environment. The fact that bitcoin mining consumes more electricity then the whole country of ukraine before the war, is just crazy and i can understand that big banks don't want to invest in such an asset because this means bad press for them. The same is still true for Ethereum at the moment.
Once the switch to PoS has happened ETH is basically a green coin and therefore much more suitable for today's environment.