Speculators bet $200,000 on the launch of an #ETF on Solana

Speculation surrounding the possible launch of an #ETF on Solana is gaining momentum, with decentralized prediction platform Polymarket registering bets of more than $200,000.

Speculators are betting big on Solana

This week, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler made it clear that trading of spot #ETFs on Ethereum will begin by the end of summer. The SEC chief's statement triggered a wave of speculation regarding the potential for an #ETF on Solana.

Despite this optimism, bets on Polymarket regarding the approval of an #ETF on SOL are holding steady at 7%. The discussion about the possibility of launching an #ETF on Solana comes amid a changing regulatory environment and growing bipartisan support for cryptocurrencies.

For example, Republican presidential candidate Donald Trump has positioned himself as a strong supporter of cryptocurrencies, criticizing Democrats' efforts to regulate the industry. Ryan Selkis, CEO of Messari, noted Trump's support, but pointed out that he did not provide specific policy details.

"I didn't expect to share this, but tonight at Mar-a-Lago, President Trump spoke very highly of the crypto industry," Selkis wrote.

The recent passage of the #FIT21 Financial Innovation and Technology Act by the House of Representatives, which received significant support from Democrats, also reflects a potential policy shift. However, with $ETH #ETFs still awaiting final approval, the #crypto community remains cautious. The industry's focus is on navigating the regulatory environment and ensuring that new policies support innovation rather than hinder it.