They'll be in charge of nothing.

You can't create Bitcoin by decree, it exists via proof-of-work on a predetermined schedule dictated by the code on which it runs.

Derivatives won't do anything to the underlying, just like they don't do anything to the S&P 500 components traded in index futures.

You can manufacture gold warehouse receipts, clad tungsten, or infiltrate Canadian Royal Mint bars, but Bitcoin is verified and absolute due to the protocol and global hashing network keeping it secure.

Your premise is flawed, plain and simple.