The goal of Blackrock et al with their ETFs may not be to suppress the price, as that is futile anyways. They want to turn it into a taxed, surveilled and regulated Wall Street plaything to overshadow its utility and keep it from competing with fiat as money.
Discussion
The value they see in it, I believe, is it acts as a leveraged counterbalance to bond losses and currency devaluation. The Fed posted a $114 B loss in 2023, and many member banks posted large losses on T-Bills. The system (fiat fractional reserve) is designed to explode, the game is to trade worthless paper for the realest property possible before it does... bitcoin is the realest property in existence.