I think more so I would be afraid of the bitcoin market manipulation via ETF/Futures contracts trading. But at the same time these markets are completely stand alone from bitcoin and shouldn't have that much affect on the coin price but it honestly probably will have a huge impact. As good as it will be at the start for new money flooding into bitcoin i'm not so sure on the long term outlook if you're looking at it from that perspective and how they have manipulated markets like the precious metals markets.
I believe "the issue" that everyone should become more informed AND POSSIBLY afraid of is the paragraph that mentions BlackRock and how it might choose which fork it considers "the Real Bitcoin".
I don't know if the contents in this paragraph was made as a mere protection mechanism for BlackRock and its ETF, but if they form a cabal with other ETF issuers and hold more than 50% of the total supply, they may accumulate too much influence over the network.
Tin-foil hats on, probably start a hash war and have their chosen fork as "Bitcoin"?
¯\_(ツ)_/¯
In the event of a hard fork of the Bitcoin network, the Sponsor will, if permitted by the terms of the Trust Agreement, use its discretion to determine which network should be considered the appropriate network for the Trust’s purposes, and in doing so may adversely affect the value of the Shares.
In the event of a hard fork of the Bitcoin network, the Sponsor will, as permitted by the terms of the Trust Agreement, use its sole discretion to determine, in good faith, which peer-to-peer network, among a group of incompatible forks of the Bitcoin network, is generally accepted as the Bitcoin network and should therefore be considered the appropriate network for the Trust’s purposes.
The Sponsor will base its determination on whatever factors it deems relevant, including but not limited to, the Sponsor’s beliefs regarding expectations of the core developers of bitcoin, users, services, businesses, miners and other constituencies, as well as the actual continued acceptance of, mining power on, and community engagement with, the Bitcoin network, or whatever other factors it deems relevant.
There is no guarantee that the Sponsor will choose the digital asset that is ultimately the most valuable fork, and the Sponsor’s decision may adversely affect the value of the Shares as a result.
The Sponsor may also disagree with Shareholders, the Bitcoin Custodian, other service providers, the Index Administrator, cryptocurrency exchanges, or other market participants on what is generally accepted as bitcoin and should therefore be considered “bitcoin” for the Trust’s purposes, which may also adversely affect the value of the Shares as a result.
https://www.sec.gov/Archives/edgar/data/1980994/000143774923017574/bit20230608_s1.htm
