You seem to not understand how easy it is to pull of fractional reserves on an internal ledger. Coinbase (BlackRock I'd a shareholder) could just sell empty claims. They show 1M in reserves. But they sell 2M of coins. Nobody even would notice.
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That's not true. The price would reflect it. Suppression. Easy to dump and scare the market. Scoop up coins at the bottom and reduce fractional reserves. Rinse and repeat.
That's how Binance has done it. And that's his BlackRock will do it.
so your theory is they will rehypothecate, and then dump the market with bitcoin they don't actually have because they rehypothecated it, and then somehow buy back all the bitcoin they have rehypothecated and also the bitcoin they sold all because they "panicked" the market?
Not how bitcoin works.
I always find it amusing when people imagine that the most bullish asset in human history is having it's price suppressed. Boggles the mind.
So now they control 3 million coins the ETF is insolvent, when bitcoin goes to 250k and people take profit, blackrock execs go to prison.
Don't forget that ETFs are cash settled.
They will just print enough USD to not go insolvent. It's the endgame or the prelude to the endgame and they will go to extremes.
What bothers me is the naivete of sine self-proclaimed BTC maxis.
if they are going to print money off the books, defrauding the federal reserve, give that cash to blackrock to settle ETF profits, while not actually buying the bitcoin, why wouldn't they just buy the bitcoin? Makes no sense.