Understanding the iShares Bitcoin Trust and Hard Forks 

A recent highlight from Wolf_Financial on X sheds light on an intriguing aspect of the #SEC filing prospectus for BlackRock's iShares Bitcoin Trust: its approach to #Bitcoin hard forks.  

🔍 Key points:  
1️⃣ If a hard fork occurs, the version of Bitcoin supported by the trust is determined by the sponsor (BlackRock).  
2️⃣ The prospectus acknowledges BlackRock’s fiduciary duty to maximize profits for its clients.  

This raises an important question: Why would BlackRock support a less valuable fork? Choosing the dominant, more profitable chain aligns with their profit-driven mandate.  

💭 Takeaway for $IBIT investors:  
This clause could simply be a precautionary disclosure, but it’s a reminder of how centralized decision-making can impact ETFs. While BlackRock’s decisions may prioritize profitability, it underscores the potential for divergence between retail Bitcoin holders and institutional vehicles.  

#Crypto #BitcoinETF