Imagine a situation where you own a house and a piece of land it's built on. You estimated the value of the whole thing to be $500k. One day someone knocks on your door and offers you $2m all of a sudden. Will you sell or suspect they know more than you? Maybe there's an oil deposit underneath your house? Maybe there's geothermal energy source? Maybe an international company has plans to build a facility nearby and will need your land for whatever price?
I'm asking this because if the funds get approved all at once there will be a large pressure on bitcoin's price and supply is, as we all know, limited.
Nobody buys bitcoin to sell it cheaper, so if they offer you $100k, they think it will go higher. If they offer $1m it's again going to go higher according to them.
Will you simply give it away once someone hands you $100k, or decide that it's cheap and they know more than they're willing to share?
OP, there's buyers and sellers at every moment of every day. According to your logic nobody should ever sell or use Bitcoin because it'll continue to go higher long term.
Well, money is to be used. The vast majority of people who own bitcoin are going to want to use it at some point. Only people who might never use it are wealthy people for whom any Bitcoin they have is entirely unneeded and is just purely extra wealth that they will pass down for generations. Most people are going to sell when they want to. Hell I just sold a little bit last month to take a vacation and pay for a few other things.
Selling has nothing to do with Blackrock, and has nothing to do with not understanding Bitcoin's value and other people understanding its value better. By your logic nobody would EVER sell any investment ever because a buyer is always buying because they expect to make money, so your logic says nobody can ever sell any investment because the buyer is only buying due to an expectation that the price will be higher than you are selling it at. Which clearly makes no sense, because money is a thing people use. People sell when they want, every single second of every single day. It's not an issue. It's literally how markets work.