The Binance $4B fine is more related to the status of the FTX claims than it is the ETF. I am quite sure that I've read that this $4b will be going toward FTX. Sounds ridiculous for the money flow to work like that, but go ahead and dig into that yourselves (or PM me if you want me to find the sources later)

The ETF is a long, bureaucratic process that should not expected to be finished in 2023....ESPECIALLY if institutions need to take the SEC to court to be able to have it filed, and I think we should be assuming this in my opinion. When FTX claims are done, then expect the ETF to be a step closer. The industry needs to be clean first...mtgox and ftx mess (and whatever mess is left or yet to occur with binance) is yet to be completed before ETFs go live - this is my projection of how things are going to be ordered anyway.