In the world of cryptocurrency, news and speculation are equally influential. Recent developments have dashed some high hopes in the crypto community. After the approval of the Ethereum ETF, there were whispers that similar products might soon follow for Solana. But the latest update has cleared up these rumors.

Excitement had been building around the possibility of the Chicago Mercantile Exchange (CME) launching a futures fund for Solana (SOL). Speculation also included big names like BlackRock and other current crypto ETF issuers possibly getting involved. However, recent statements confirm that the CME has no such plans for a Solana futures fund. This announcement indicates that there will be no new investment vehicle for SOL through CME.

A crucial factor for crypto ETFs is the SEC's stance on whether a particular cryptocurrency is considered a security. The recently passed FIT21 bill in the House of Representatives allows the CFTC to categorize certain altcoins as commodities. This could open doors for Solana, especially if the SEC decides not to classify Ethereum as a security.

For now, though, the hopes for a Solana ETF have been put on hold. With no other issuers stepping up to offer similar products, Solana will remain unaffected in this area. As it stands, Solana enthusiasts will have to wait for any future developments on this front.