Well his view is the Wall Street view....I mean Larry Fink undoubtedly thinks that now that he's showed up he is going to be able to command the market. I don't mean that as a conspiracy, just simply the natural perspective that "yeah the wall streeters think they are the most important players".

I do think that they all still don't grok enough of the nuances of this new world. Like I don't think they've fully conceptualize that structurally BTC isn't going to simply plug into the fiat world very cleanly in the ways they imagine.

For instance, the rehypothecation of gold exist because "heavy fuckin rocks" problem. People really can only transfer paper gold because its simply impossible to transfer, hold, and secure 8000 lbs of heavy rocks.

Whether its gold, corn, oil, etc....they've been able to have the same game because of this same situation. Investors don't actually want to own a tractor-trailer of corn....

These issues don't exist with BTC and I'm not sure if all of this has dawned on them. I think a hint of that is how currently 95% of all ETFs are custody at Coinbase. Like this is a new existential threat that they aren't fully appreciating. There is no solution if 180,000 BTC gets stolen from coinbase custody....I mean if this happens in NASDAQ / DTCC exchange world, they simply reset the database entries and keep going. If this happens to their ETF coins, well they are gone and there is no printing new ones.

But they are smart people, and in time (probably rather quickly) these ideas are going to dawn on them and they will start to adjust.