BlackRock holds over $70 billion worth of Bitcoin through its ETF products, which has sparked a debate in the crypto community.
Critics warn that BlackRock's dominance in Bitcoin ETFs could threaten decentralization and user control over Bitcoin's future.
BlackRock's iShares Bitcoin Trust (IBIT) controls at least 660,137 BTC, making it the largest crypto ETF by Bitcoin holdings.
There are concerns that BlackRock and other ETF giants could influence Bitcoin's future through centralized power, potentially shaping its narrative and utility.