XRP, Solana ETFs جذب Fresh Inflows as Senate Advances Crypto Clarity Bill

U.S.-listed spot crypto ETFs tracking XRP and Solana drew fresh capital on Sunday, underscoring steady 'liquidity inflow' into regulated crypto wrappers even as Washington continues to debate how digital assets should be supervised. New data also highlighted accelerating activity in dollar-pegged stablecoins across Solana and Tron, while lawmakers signaled that the Senate’s next major test for a comprehensive market-structure bill is set for midweek.

According to SoSoValue data cited by PANews, U.S. spot XRP ETF products recorded net inflows of $25.7958 million on May 11 U.S. Eastern Time (ET). Franklin XRP ETF ($XRPZ) led the group with $13.62 million in one-day net subscriptions, bringing its cumulative net inflows to $371 million. Bitwise XRP ETF ($XRP) added $7.5878 million on the day, lifting its cumulative net inflows to $442 million.

Across the category, spot XRP ETFs were reported to hold $1.184 billion in net assets, with a 1.30% net asset ratio and cumulative net inflows totaling $1.351 billion. The figures point to continued 'institutional demand' for XRP exposure through ETF structures, which many allocators prefer for custody, reporting, and compliance reasons.

Solana-focused products posted a similarly strong session. SoSoValue data cited by PANews showed spot Solana ETF inflows of $26.5728 million on May 11 ET. Bitwise Solana Staking ETF ($BSOL) accounted for the bulk of the move with $21.623 million in daily net inflows, taking its cumulative net inflows to $883 million. Fidelity Solana Fund ETF ($FSOL) saw $3.4827 million in net inflows, bringing its cumulative total to $165 million.

At the time of reporting, spot Solana ETFs collectively held $1.071 billion in net assets, with a 1.90% net asset ratio and cumulative net inflows of $1.084 billion. Market participants typically watch these flow metrics as a near-term gauge of risk appetite, particularly when spot prices are range-bound and short-term direction is dominated by macro headlines and positioning.

On the policy front, Senator David McCormick said on Fox News that he intends to vote in favor of a Bitcoin and crypto 'clarity' bill on Thursday. Separately, journalist Pete Rizzo reported on X, citing comments delivered in the White House press area, that the final text of the Bitcoin and crypto clarity legislation was expected to be released Monday ET. Investors are closely tracking provisions that could define regulatory responsibilities for exchanges, issuers, and oversight bodies—details that often determine compliance costs and U.S. market access.

TD Cowen added another timing marker, saying the Senate Banking Committee is expected to vote on May 14 ET on the so-called 'Clarity' market-structure bill, according to PANews. TD Cowen managing director Jaret Seiberg cautioned that a committee vote is not equivalent to passage, but rather a step toward moving the debate to the full Senate. He highlighted unresolved issues including stablecoin yield, ethics and conflicts-of-interest language, and the challenge of reconciling competing priorities across the crypto industry, banks, and major stakeholders such as Coinbase ($COIN).

Seiberg also flagged ethics provisions tied to President Trump’s family crypto business interests as a potential swing factor in negotiations, reflecting how political risk can shape the pace of rulemaking. Even if the bill advances, it would still need to be merged with related legislation from the Senate Agriculture Committee and clear a 60-vote threshold in the full Senate, according to the note. Seiberg previously suggested the process could extend into 2027, with final rules potentially not taking effect until 2029.

Meanwhile, stablecoin supply growth continued to concentrate on high-throughput networks used for trading and payments. Circle, issuer of the U.S. dollar-pegged stablecoin USD Coin (USDC), minted roughly 250 million USDC on Solana over the past 24 hours, according to data cited by SolanaFloor. Market observers often interpret large mints as a proxy for rising on-chain liquidity—though mints do not necessarily translate one-for-one into immediate market buying.

On Tron, the supply of TRC20-based Tether (USDT) surpassed 89.3 billion tokens on May 12, setting a new record, PANews reported. The network has added about 8 billion USDT so far this year, while TRC20-USDT holding accounts rose to 74.15 million and cumulative transactions topped 3.36 billion. Tron’s total accounts recently exceeded 380 million.

Tron’s stablecoin footprint is also increasingly tied to consumer payments. Payment card analytics platform PaymentScan estimated global crypto card transaction volume surpassed $650 million in April 2026, with Tron holding the top position at a 32% share. TRC20-USDT remains widely used across exchanges and payment services, supported by relatively low fees and fast settlement.

In equities linked to crypto infrastructure, Ark Invest purchased about $5.5 million worth of Circle Internet Group shares—41,904 shares—on Monday through its ARK Innovation ETF ($ARKK), ARK Next Generation Internet ETF ($ARKW), and ARK Fintech Innovation ETF ($ARKF), according to The Block. The purchase marked Ark’s first addition to its Circle position since March 24. Circle shares closed up 15.91% at $131.76 following first-quarter results, the report said. Circle represents the sixth-largest weight in $ARKK at 4.6% and the second-largest in $ARKF at 6.66%.

Product development continued on the ETF front as Grayscale filed an application on May 8 ET to list a spot Zcash (ZEC) ETF, according to Odaily. The proposed fund would be among the first U.S. attempts to package exposure to a 'privacy coin'—a category that has historically attracted heightened regulatory scrutiny due to concerns about transaction traceability. The filing comes as some prominent crypto investors have publicly disclosed sizable ZEC holdings in recent months.

In South Korea, lawmakers are also pushing for stronger customer protection mechanisms after a new review found that user assets remain frozen at multiple inactive exchanges. Citing Yonhap, PANews reported that assets worth 22.1 billion won (about $16 million) belonging to roughly 1.949 million users were frozen across 15 domestic virtual asset businesses that halted operations as of May 4 KST (May 3 ET). Only six firms transferred assets to the Digital Asset Protection Foundation, and just 131 users—about 0.006%—had recovered funds via the foundation, totaling roughly 74.52 million won, around 0.3% of the frozen amount.

Rep. Kang Min-kook argued that current rules lack sufficient mandatory provisions requiring operators to move customer assets to the foundation and said guidance around the refund application process remains inadequate, urging follow-on legislation to strengthen safeguards.

Taken together, the day’s developments highlight a market increasingly split between rapid financialization—via ETF flows and staking-linked products—and slower-moving regulatory plumbing. With stablecoin issuance expanding on key networks and Senate negotiations approaching another procedural milestone, the next catalyst may come less from token narratives and more from whether policymakers can translate 'clarity' into workable rules without triggering unintended constraints across trading, issuance, and payments.