As of the time this article was prepared, the price of Bitcoin 
$64,191 is struggling to reclaim the $73,000 mark and is currently at $72,804. Recent third-quarter data revealed MicroStrategy’s aggressive approach to acquiring Bitcoin. What is the latest situation regarding SOL Coin?
SOL ETF Application Status
Two applications for Solana 
$73 (SOL) had been submitted in previous months but were halted due to the SEC‘s stance. However, as this article was being written, a new application was submitted by Canary Capital Group. What motivates this new S-1 Form submission to the SEC, especially when Gensler has openly stated that most altcoins are securities?
Following the U.S. elections on November 5, Trump announced he would remove the current SEC chairman. He plans to appoint a crypto-friendly leader, which could lead to the SEC adopting a less negative stance on cryptocurrencies. If this occurs, there is a possibility for SOL Coin approval, especially given that Gensler has approved an ETF for ETH.
Potential Outcomes with Harris’ Victory
What if Kamala Harris wins? Harris has committed to accelerating regulatory steps and supporting innovation in the crypto domain. While her approach may not be as favorable as Trump’s, her election wouldn’t be disastrous. However, it’s important to be cautious about assuming a complete shift in the Biden administration’s stance under Harris. One potential advantage for Harris regarding the SOL ETF is the common practice of new presidents appointing new SEC chairpersons. Thus, even if Harris is elected, Gensler may leave his position for a new opportunity.
