What does the Bitcoin ETF mean for Miami’s web3 community? We asked.

By Riley Kaminer

Will they? Won’t they? The road to the SEC’s approval of the Bitcoin ETF played out like a cut-rate reality show, including an X account hack, a broken link (or overwhelmed website?), and a flurry of speculation in the press (“Bitcoin Could Hit $200,000 by December 2025,” proclaimed a few outlets after the release of a report from Standard Chartered Bank). And of course, X feeds and Discord channels worldwide were set ablaze with debates, historiographic musings, and memes.

Lin Dai

“The BTC ETF’s approval is a watershed moment for crypto and underscores the maturing of blockchain technology,” Miami-based Superlogic CEO and co-founder Lin Dai told Refresh Miami. Superlogic, formerly known as OneOf, is building the future of loyalty and connected commerce leveraging blockchain technology.

“Bitcoin as an institutionally accepted asset class is just the tip of the iceberg,” he continued. “Blockchain powered applications such as Superlogic’s enterprise loyalty platform will proliferate and connect tens of millions of consumers in 2024.”

So what does this mean for Miami’s diamond-handed crypto enthusiasts?

For Natalia Karayaneva, the CEO of blockchain-powered digital real estate closings platform Propy, this approval holds the promise of acting as a “transformative catalyst” for Miami web3.

“The green light for the ETF could signify a pivotal moment, drawing in a more diverse and expansive group of mainstream investors into the cryptocurrency space,” she said. “This increased participation not only has the potential to foster greater adoption but also enhances the overall legitimacy of the crypto sector.”

Beyond simply bringing more people into the world of crypto, Karayaneva believes that this ETF would also diversify the bitcoin investor base. “The collective engagement of mainstream investors could bring fresh perspectives, innovations, and a heightened level of interest that propels the local crypto and web3 projects to new heights.”

As crypto participants and other major financial players continue to relocate to Miami from places like New York, Karayaneva expects to see more capital to flow into the Magic City. “This momentum may lead to more city officials, following [Miami Mayor] Francis Suarez’s example, accepting bitcoin for salaries,” or experimenting with government-backed blockchain projects.

The bottom line, according to Karayaneva: “The approval of the Bitcoin ETF in Miami could represent not just a singular event but a transformative milestone with far-reaching implications for the local crypto and web3 community.”

“It has the potential to create a ripple effect, reshaping the landscape, and establishing Miami as a hub for innovative developments in the ever-evolving world of cryptocurrencies.”

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Riley Kaminer

I am a Miami-based technology researcher and writer with a passion for sharing stories about the South Florida tech ecosystem. I particularly enjoy learning about GovTech startups, cutting-edge applications of artificial intelligence, and innovators that leverage technology to transform society for the better. Always open for pitches via Twitter @rileywk or www.RileyKaminer.com.