Recently at an Atlanta BitDevs meetup we spoke about Blackrock's ETF filing and the speaker

@HODLBarbarian

mentioned that in case of a fork, Blackrock gets to decide which Bitcoin chain is the valid chain. I just looked up the filing document with SEC and here's what I found:

With respect to any fork, airdrop or similar event, the Sponsor shall, in its sole discretion, determine what action the Trust shall take. In the event of a fork, the Sponsor will, as permitted by the terms of the Trust Agreement, determine which network it believes is generally accepted as the Bitcoin network and should therefore be considered the appropriate network, and the associated asset as bitcoin, for the Trust’s purposes.

This concerns me a lot, traditionally the Bitcoin network has been very resistant to such attacks but when big players enter the game, things could change. What if Blackrock causes a fork and says our chain is the valid one? Of course nodes and miners have to switch but the fund is so massive and there will be so much price pressure and anything could happen.

In my opinion this is like an attack on Bitcoin, curious on what others think.