As you all know, BlackRock, the world's largest asset manager, prepares to launch its long-awaited Bitcoin ETF. Institutional investors are eager to get their hands on this new asset class, and the cryptocurrency market is booming. However, amidst all this excitement, a chilling thought lingers: what if the Bitcoin ETF gets hacked? What if a group of hackers manages to steal billions of dollars worth of Bitcoin from BlackRock's holdings, and it happens through Coinbase Custody, the company BlackRock has chosen to safeguard its crypto assets?

This scenario might seem far-fetched, but it's not impossible. Cryptocurrency is a new and emerging technology, and it's not immune to security vulnerabilities. Hackers are always looking for new ways to exploit these vulnerabilities, and it's only a matter of time before someone finds a way to break into Coinbase Custody's systems.

If a hacker does manage to hack into Coinbase Custody's systems, the consequences could be catastrophic. The value of Bitcoin would plummet, and investors would lose billions of dollars. The global financial markets would also be affected, as trust in cryptocurrencies would be shattered.

Of course, Coinbase Custody has taken steps to protect its Bitcoin holdings. The company uses a variety of security measures, such as cold storage and multi-signature wallets. But even the most sophisticated security systems can be breached, and there's no guarantee that Coinbase Custody's defenses will be strong enough to withstand a determined attack.

So, what can we do to prevent this from happening? The first step is to be aware of crypto's initial objectives. Bitcoin has been conceived to be held with our own private keys. The ETF approval which is eagerly awaited by investors has nothing to do with Bitcoin philosophy. That's good for nocoiners who want to invest into Bitcoin without understanding how it's working. Therefore, I can only recommend to stay away from ETFs and others centralized stuff. BlackRock is not our friend. Not your keys, not your coins.