The Daily: Gary Gensler to leave SEC on Jan. 20, regulator now 'engaging' on spot Solana ETFs and more

SEC Chair Gary Gensler will step down on Jan. 20, 2025, coinciding with the start of President-elect Donald Trump’s term, according to a statement released by the agency on Thursday.The SEC is now “engaging” with applicants on spot Solana ETFs, Fox News reporter Eleanor Terrett first reported, citing two people familiar with the matter, and confirmed by The Block with a source at one issuer.U.S. spot Bitcoin ETFs surpassed $100 billion in combined assets under management on Wednesday — representing around 5% of bitcoin’s total market cap — driven by the cryptocurrency’s ongoing price rally.The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.