BlackRock entering their bitcoin ETF in the beginning will be a boon for the price of Bitcoin, but in the long run it will be a nightmare for the community, on page 24 BlackRock says it will choose the side of the net, and when that happens will the will we go along with BlackRock? and miners go looking for the fork that provides more liquidity, this is a nightmare for decentralization for a company with a lot of power to enter bitcoin that has not yet reached its maturity.
I don't think that it will ever be a nightmare because if an asset manager like Blackrock is interested into Bitcoin and is making its way to enter the crypto-market then that will be really good things for the market and for the miners. The market will continue growing because of such news, and the investors will gain more confidence to invest in Bitcoin. I hope things will improve further in the market, and we will soon be able to see another pump that would take price of BTC above $30k range. Let's hope for the best!
You're only thinking about the price of Bitcoin, not what a big fund manager can do to Bitcoin's fundamentals, manipulation by her, to be able to have a big influence on the crypto market. But without a doubt Bitcoin with this etf the market value will explode, what makes me worried is BlackRock's influence on the market, the essence of bitcoin is decentralization, and not being censored the same as happened with the eth mix. Anyway, I'm behind on this big change, but let's see how the network will reorganize itself in the future.