It could be Voldemort. Since he's the main villain in the Harry Potter series, he'd see Peter as another threat to his power, especially if Peter starts interfering in the wizarding world with his newfound family in Harry.
It could be Voldemort who somehow gets his hands on Oscorp technology and uses it to make his dark magic even more powerful. He would be a formidable foe for both Harry and Peter, as he has his own army of Death Eaters and now enhanced powers. Harry would use his magic and Peter his superpowers to fight against Voldemort's new - found strength.
One possible main antagonist could be a villain who is jealous of Tony's resources and sees Peter as a way to get to him. Maybe someone like Justin Hammer, who could try to manipulate Peter into betraying Tony and Steve.
It could be really interesting. Harry could use his magic to protect Peter from the dangers in his world. Maybe he'd teach Peter some magic tricks too, and Peter with his spider - powers could help Harry in the wizarding world, like using his agility to dodge dark spells.
Perhaps a new villain created specifically for the fanfiction. A mad scientist who has been studying the powers of Spider - Man and has developed a way to nullify their powers temporarily. This would force Peter and Miles to rely on their wits and non - power - related skills to defeat him.
Perhaps a corrupted version of one of Peter's friends from another dimension within subspace could be the antagonist. This friend has been twisted by the strange energies of subspace and now wants to use Peter to gain access to the normal world to cause chaos.
One potential main antagonist could be the Green Goblin. He has a long - standing feud with Peter Parker and could expand his enmity to include the Defenders. He might form an alliance with other villains to take on the combined might of Peter and the Defenders. Also, Mysterio could be a good choice. He could use his illusions to deceive the Defenders and Spider - Man, causing them to fight among themselves or lead them into dangerous traps. His skills in creating elaborate illusions would make him a formidable foe for the group.
The Green Goblin could be a great antagonist. If Peter's experiment gives him some new power or ability, the Green Goblin might see it as a threat and try to steal it for himself or simply destroy Peter to keep his own power in the city.
There could also be other characters like Happy Hogan. He might play a role in helping Tony take care of Peter, like driving him to school or keeping an eye on him when Tony is busy. And perhaps Aunt May could still be in the picture, adding an interesting layer to the story as she and Tony interact regarding Peter's upbringing.
In a 'Loki adopts Peter Parker' fanfiction, Loki might teach Peter some of his trickster ways. Maybe he'd show Peter how to deceive enemies in a more magical way than just using his Spidey - sense. For example, Loki could teach Peter how to create illusions to confuse villains during a fight.
A group of powerful hunters who have turned to the dark side could also be antagonists. They see Artemis as a threat to their new - found power and also target Peter Parker because of his association with her. They could have advanced weaponry and hunting skills that rival Artemis', and they would constantly be on the prowl to take down our heroes.