Friday🌑Web3 Highlights: Bitcoin ETF Milestones, New SEC Chair Talk, and Detroit’s Crypto Move!

Welcome to today’s Web3 Buzz! We’re diving into some of the most significant moves in the crypto and blockchain space, from massive Bitcoin ETF inflows to Detroit embracing cryptocurrency payments. BlackRock’s Bitcoin ETF just smashed records with a stunning $1.1 billion single-day inflow, signaling a new wave of institutional interest in crypto. Meanwhile, political shifts could shape the future of financial regulation, as Trump’s team considers Robinhood’s legal chief for SEC chair. And as Bitcoin ETFs gain traction, Detroit makes strides to become the largest US city accepting crypto. Read on for the latest insights and trends!

1. BlackRock’s Bitcoin ETF hits record $1.1B single-day inflow

BlackRock’s Bitcoin ETF just hit a major milestone, pulling in a record-breaking $1.12 billion in a single day as demand surges for Bitcoin investment products. This influx follows favorable market conditions and investor optimism sparked by recent political shifts, including President-elect Donald Trump’s pro-crypto stance. Analysts point to a “perfect storm” of monetary easing, political stability, and strong U.S. economic data driving capital toward Bitcoin ETFs at unprecedented rates. With BlackRock’s low fees and steady inflows, its iShares Bitcoin Trust (IBIT) is now outpacing competitors like Grayscale and Fidelity, signaling a potential rally in institutional crypto investments.

BlackRock’s Bitcoin ETF Sets Record For Biggest Daily Inflow Above $1.1 Billion - Decrypt

BlackRock’s Bitcoin ETF has surged amid broader market momentum, with one analyst predicting sustained inflows through to next week.

DecryptVince Dioquino

2. Trump team considers Robinhood’s top lawyer for SEC Chair

Following Donald Trump’s election win, the cryptocurrency community is eagerly awaiting the appointment of a new SEC chair. Trump has promised to replace current chair Gary Gensler with someone more crypto-friendly. Among the top contenders are Paul Atkins, former SEC commissioner, and Dan Gallagher, Robinhood’s Chief Legal Officer, both with strong ties to the SEC. Other names being considered include Robert Stebbins, former SEC chief counsel, and 'Crypto Mom' Hester Peirce. However, some experts, like attorney Jake Chervinsky, argue that the SEC chair position is a challenging, thankless job, making it less appealing to potential candidates.

Trump Team Eyes Robinhood’s Chief Legal Officer for SEC Chair

A new candidate has just entered the race for the next chairman of SEC. Will Robinhood’s Dan Gallagher aid the growth of the crypto industry?

Watcher GuruSahana Kiran

3. Bitcoin ETFs surge with $1.3B in inflows post-election & Fed cuts

Following Donald Trump's U.S. presidential win, Bitcoin (BTC) exchange-traded funds (ETFs) saw a record $1.38 billion in net inflows, with BlackRock’s IBIT leading the charge with $1.1 billion. This marks IBIT's highest inflow since its launch in January, contributing to a cumulative $25 billion in net inflows across all U.S. Bitcoin ETFs. Alongside Bitcoin’s surge, Ethereum (ETH) ETFs recorded $78 million in net inflows, reflecting renewed bullishness in the decentralized finance (DeFi) sector. This market momentum follows expectations of pro-crypto policies under Trump and the Federal Reserve’s recent interest rate cut.

Bitcoin ETFs See Record $1.3B Inflows on Trump Win, Fed Rate Cuts

BlackRock’s IBIT accounted for most of the inflows at $1.1 billion, with zero net outflows from any product.

CoinDeskShaurya Malwa

4. Detroit set to be the largest US city to accept crypto payments

Detroit is set to become the largest U.S. city to accept cryptocurrency payments for taxes and fees by mid-2025. Residents will be able to make payments through a secure PayPal-managed platform. This move aims to foster a technology-friendly environment and attract tech startups to the Motor City. Mayor Mike Duggan expressed excitement about exploring blockchain applications and empowering residents. The city also hopes to improve accessibility, particularly for unbanked individuals, by enhancing payment channels. Additionally, Detroit is inviting blockchain innovators to pitch ideas for enhancing public services through blockchain technology. #Detroit #Cryptocurrency #Blockchain #TechInnovation

Detroit to become largest US city to accept cryptocurrency payments

The city will accept the digital currency for taxes and other fees starting in mid-2025.

The Detroit NewsMax Reinhart

Thanks for joining us on today’s Web3 Buzz! As crypto adoption reaches new heights with major financial players stepping in and cities embracing digital currency, we’re witnessing a transformative moment in finance. From record-breaking Bitcoin ETF inflows to potential shifts in regulatory leadership, the momentum for decentralized finance continues to build. Stay tuned to our newsletter for in-depth updates and insights on the evolving world of Web3—where every headline brings us closer to a new digital economy. Don’t miss out on the latest!

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