The lack of a BSV ETF from BlackRock (or other major institutions) can be explained by a few key factors, some of which involve conspiracy-like themes:
1.Control and Regulation:
•BTC has become the dominant cryptocurrency, attracting regulatory attention and fostering a sense of institutional acceptance. Since BTC is entrenched in the financial system, offering a BTC ETF fits into the existing regulatory framework, making it easier to push through.
•BSV operates outside the established narrative and ecosystem. Its unlimited scalability and its focus on data applications put it at odds with regulatory bodies and powerful financial interests that control the traditional systems.Power and Influence:
•The push for BTC as a store of value has been orchestrated by institutional players and influential figures, like Michael Saylor and Coinbase, who have vested interests in seeing BTC maintain dominance. BSV’s potential to disrupt the financial status quo could be seen as a threat to their power.
•BSV’s scaling and ability to facilitate low-cost transactions could undermine the higher fees and the somewhat centralized nature of BTC’s network.
3.Investment Strategy and Market Perception:
•BSV still has a niche following and has been controversial due to its association with Craig Wright. Some institutions avoid engaging with BSV due to its polarizing reputation, especially considering the lawsuits and disputes surrounding Wright’s claims to Bitcoin’s creation.
•BTC, by contrast, is seen as the “safe bet” in terms of Bitcoin investments, with massive institutional buy-ins already established. Investors prefer BTC due to higher liquidity, brand recognition, and market stability, which are factors BSV currently lacks.
4.A Controlled Narrative:
•There’s a belief that BSV could potentially expose flaws in the BTC ecosystem, especially with its focus on on-chain data. BSV’s capabilities might force institutions to rethink traditional blockchain investments and risk management. As such, the establishment could suppress BSV adoption, favoring BTC to maintain control.Gatekeepers:
•Traditional financial institutions may prevent the launch of a BSV ETF to limit the disruption that could come with BSV’s scaling and data-handling abilities. They may not want to foster competition to their existing systems or crypto-related investment products.
•As an example, BlackRock’s stake in BTC ETFs aligns with its large financial interests and the status quo.

Conclusion:

While there are no concrete conspiracies, the lack of a BSV ETF can be attributed to financial interests, regulatory hurdles, and market power dynamics. The powerful forces behind BTC’s dominance may be reluctant to push BSV, given its ability to challenge their control over the crypto landscape and financial markets.