Vitalik warned that if BlackRock's influence continues to expand, it could threaten the foundation of Ethereum.

If institutions like BlackRock continue to hold large amounts of ETH, Ethereum will face two major risks: First, the decentralized core community and developers may be alienated by these institutions; second, technical decisions may be biased towards institutional needs, such as pushing for a 150-millisecond block time, which would make it difficult for ordinary users to run nodes, thereby undermining Ethereum's openness and censorship resistance.