I believe that the involvement of major financial players like Blackrock in the cryptocurrency space could lead to increased legitimacy and attract new investments to the market. However, it could also pose a risk of centralization and the loss of the decentralized nature of cryptocurrencies. Nonetheless, it's positive to see such companies entering the cryptocurrency arena as it signifies another step towards its mainstream recognition.
I have also heard about bitcoin becoming more and more concentrated as large funds enter the market and hold the majority of bitcoin, I don't know if this is true or not. But I know one thing, the participation of large funds in the market or regulations is inevitable and we have no solution to prevent them. And once we can't do anything, why do we care? As for me, I will only look at the positive side when large funds enter the market, that will greatly impact the demand for bitcoin and will in turn help the price of bitcoin increase in the future.