Web3🌑Friday Highlights: BlackRock’s Bitcoin ETF Outflows, Tron’s $100M Freeze, and Solana ETF Buzz!
1️⃣ BlackRock Bitcoin ETF: $330M outflows on Jan 2.
2️⃣ Tron’s T3 Unit: $100M USDT frozen to fight crime.
3️⃣ Frax Finance backs frxUSD with BlackRock’s BUIDL.
4️⃣ Polymarket: Odds rise for Solana ETFs' SEC approval by 2025.
Discover more insights inside!📖
Kick off your Friday with the hottest Web3 updates! From record-breaking moves in Bitcoin ETFs to bold steps in financial crime prevention, the Web3 world is buzzing with activity. BlackRock’s Bitcoin ETF sees a $330M outflow, Tron’s T3 unit freezes $100M in USDT, Frax Finance joins forces with BlackRock, and Polymarket odds favor Solana ETFs for SEC approval by 2025. Ready to dive into the latest developments shaping the future of decentralized finance? Let’s break it down!
1. BlackRock Bitcoin ETF: $330M outflows on Jan 2.
BlackRock’s iShares Bitcoin Trust (IBIT) recorded a historic $332.6M outflow on January 2, the largest since its inception, bringing the week’s total outflows to $392M. Despite this downturn, BlackRock’s Bitcoin ETF dominated 2024 with $37.2B in net inflows, ranking third among all U.S. ETFs. Competitors like Bitwise, Fidelity, and ARK saw inflows on the same day, offsetting BlackRock’s decline. The crypto ETF market saw $242M in net outflows on January 2, reflecting mixed investor sentiment. Experts predict innovation in 2025 with combined Bitcoin-Ether ETFs and new spot ETFs, as the crypto ETF market continues to evolve.
Ruholamin Haqshanas
2. Tron’s T3 Unit: $100M USDT frozen to fight crime.
The T3 Financial Crime Unit, a partnership between Tron, Tether, and TRM Labs, has frozen $100M in USDT linked to illicit activities since September. By analyzing $3B in transactions across five continents, the unit has targeted money laundering, scams, terrorism financing, and even North Korea-linked activities. Using TRM Labs' blockchain intelligence tools, T3 ensures transparency and accountability, identifying and freezing funds tied to dark web operations and other crimes. With $60B in USDT issued on Tron, the unit emphasizes blockchain's power to deter bad actors while helping victims recover funds and promoting safer crypto ecosystems.
Sam Reynolds
3. Frax Finance backs frxUSD with BlackRock’s BUIDL.
Frax Finance is revolutionizing stablecoins by backing its frxUSD with BlackRock’s BUIDL tokenized money market fund. This partnership bridges Decentralized Finance (DeFi) and traditional finance, offering unmatched stability and liquidity. BUIDL, managed by BlackRock, invests in top-tier assets like US Treasury bills, ensuring trust and reliability. Frax’s innovative approach allows frxUSD holders to seamlessly convert tokens into fiat, making it accessible to both everyday users and institutions. By connecting blockchain transparency with traditional financial systems, Frax Finance sets a new benchmark for stablecoins, paving the way for deeper integration between DeFi and CeFi.
Godfrey Benjamin
4. Polymarket: Odds rise for Solana ETFs' SEC approval by 2025.
Polymarket bettors now predict an 85% chance that the SEC will approve Solana (SOL) ETFs by 2025, a significant jump from 45% just days earlier. This surge in confidence reflects growing optimism, driven by interest from major asset managers like Grayscale, VanEck, and Bitwise. Despite ongoing regulatory uncertainty and Solana’s classification as a security, the rise in market optimism signals the potential for Solana ETFs to follow Bitcoin and Ethereum’s path into mainstream finance. The expected change in SEC leadership in 2025 could also play a pivotal role in shaping crypto regulations, further boosting approval chances.
Assad Jafri
The Web3 space never sleeps, and neither should your curiosity. Whether it’s record-breaking ETF moves, innovative stablecoin strategies, or growing optimism for Solana’s future, these updates showcase the dynamic evolution of decentralized finance. Stay ahead of the curve and keep exploring the endless possibilities Web3 has to offer.
