Dumb questions but if the likes of BlackRock, Fidelity, and others work together, could they initiate a hard fork or is this similar to the 51% rule?

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My understanding is that, I hard fork is always possible, if enough noise is created to promote the hard fork. They are part of the network, they have a voice, they can create noise, but they don’t have the power to change it arbitrarily. Does it make sense?

Yes a bit, thank you.

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