Today — BlackRock can be viewed as an extension of the US government (however, the opposite can be equally stated). It's safe to say that these entities demand control and with Bitcoin this is no exception.

This makes me believe that the recent Bitcoin ETF delay may stem from a misunderstanding about the technology. When Larry Fink et al. announced the ETF application, I suspect they were been under the belief (as is their nature) that something could be propagated from this instrument that would put them in control of Bitcoin.

As you know, this is impossible and after further consultation it's likely they came to the same conclusion; leaving the blob scrambling for a solution. The obvious choice would be to kill the ETF, but recent court decisions and the inherent fragility of the investment elite won't allow for this.

It's difficult to say what happens next, certainly further delays, perhaps some drama via the recent capture of Binance. Regardless, the establishment will continue to flail petulantly.

What are your thoughts?