Why? Almost all of it is not theirs. And cucks have been begging for “institutional interest” - well, this is it.
Discussion
Easier for whales to manipulate the market. I don't know of many OG or even some newer Nostrich bitcoiners who have been too enthusiastic about the ETF let alone an entity like BlackRock amassing a war chest. Mostly only degens who don't care about the tech and just want to profit have wanted this.