[News Brief] May 12, morning | US Spot XRP ETFs See $25.79 Million in Daily Net Inflows

US Spot XRP ETFs See $25.79 Million in Daily Net Inflows

US spot XRP ETFs recorded a total of $25,795,800 in net inflows during the May 11 trading day (US Eastern Time), according to a PANews report citing SoSoValue data.

The product with the largest inflow was the Franklin XRP ETF (XRPZ), which posted daily net inflows of $13.62 million. Its cumulative net inflows reached $371 million.

The Bitwise XRP ETF (XRP) recorded $7,587,800 in daily net inflows, bringing its cumulative net inflows to $442 million.

As of the time of reporting, total net assets of spot XRP ETFs stood at $1.184 billion, the XRP net asset ratio was 1.30%, and cumulative net inflows totaled $1.351 billion.

US Spot SOL ETFs See $26.57 Million in Daily Net Inflows

PANews, citing SoSoValue data, reported that US spot SOL ETFs recorded total net inflows of $26,572,800 on May 11, Eastern Time.

The product with the largest inflow was the Bitwise Solana Staking ETF (BSOL), which posted daily net inflows of $21,623,000. Its cumulative net inflows reached $883 million.

The Fidelity Solana Fund ETF (FSOL) recorded net inflows of $3,482,700 during the same period, bringing its cumulative net inflows to $165 million.

As of the time of reporting, total net assets of spot SOL ETFs stood at $1.071 billion, the SOL net asset ratio was 1.90%, and cumulative net inflows totaled $1.084 billion.

Senator Expresses Support for Crypto Clarity Bill

US Senator David McCormick said during a live Fox News appearance that he would vote in favor of a Bitcoin and cryptocurrency clarity-related bill this Thursday.

According to the report, Senator McCormick publicly stated his support for the bill’s passage. His remarks came as discussions continue in Congress over establishing a clearer regulatory framework for digital assets.

Final Text of Crypto Clarity Bill to Be Released

Pete Rizzo said on X, citing remarks from a White House correspondent, that the final text of the Bitcoin and cryptocurrency clarity bill is expected to be released today.

The bill aims to specify regulatory standards for digital assets in the United States, and the market is closely watching provisions related to exchanges, issuers, and supervisory authorities.

Circle Mints 250 Million USDC on Solana Network

Circle minted approximately 250 million USDC on the Solana network over the past 24 hours, according to a PANews report citing SolanaFloor.

USDC is a dollar-pegged stablecoin issued by Circle, and new issuance is generally interpreted as a factor supporting increased liquidity on the network.

TRC20-USDT Supply on Tron Reaches New All-Time High

PANews reported on May 12 that the supply of Tron-based TRC20-USDT surpassed 89.3 billion, reaching a new all-time high.

Since the beginning of this year, a total of 8 billion USDT has been newly issued on the Tron network. The number of TRC20-USDT holding accounts exceeded 74.15 million, while cumulative transactions surpassed 3.36 billion.

The total number of Tron accounts recently exceeded 380 million. According to crypto payment card analytics platform PaymentScan, global crypto card transaction volume surpassed $650 million in April 2026, with the Tron network maintaining the top spot with a 32% market share.

TRC20-USDT is a dollar-pegged stablecoin issued by Tether on the Tron network. It is widely used across major exchanges and payment services thanks to its low fees and fast transfer speeds.

ARK Invest Buys $5.5 Million Worth of Circle Shares

Odaily, citing The Block, reported that Cathie Wood-led ARK Invest purchased approximately $5.5 million worth of Circle Internet Group shares, totaling 41,904 shares, through three ETFs: ARKK, ARKW, and ARKF.

This marks ARK Invest’s first additional purchase of Circle shares since March 24. Circle had earlier released its first-quarter earnings, and its stock closed up 15.91% at $131.76.

Circle currently accounts for the sixth-largest holding in ARKK at 4.6% and the second-largest holding in ARKF at 6.66%.

Grayscale Files to List Spot Zcash ETF

Grayscale has submitted an application to list a spot Zcash (ZEC) ETF.

According to Odaily, Grayscale submitted the listing application for a spot Zcash ETF on May 8. The product is said to be the first privacy coin ETF seeking listing in the United States.

Earlier, a co-founder of Multicoin Capital had said that he had been holding a substantial amount of ZEC since February.

KRW 22.1 Billion in User Assets Frozen at 15 Suspended South Korean Virtual Asset Service Providers

User assets worth KRW 22.1 billion have been frozen across 15 South Korean virtual asset service providers that have suspended operations, affecting approximately 1.949 million users.

PANews, citing Yonhap News, reported that an analysis of Financial Supervisory Service data by People Power Party lawmaker Kang Min-kook found that, as of May 4, 15 domestic virtual asset service providers had ceased operations, resulting in a total of KRW 22.1 billion in frozen user assets.

Among them, only six companies transferred assets to the Digital Asset Protection Foundation, and just 131 users—0.006% of the total—have recovered assets through the foundation. The amount returned was approximately KRW 74.52 million, or about 0.3% of the total frozen assets.

Rep. Kang pointed out that current law lacks binding provisions requiring companies to transfer user assets to the foundation. He also said guidance on the foundation’s asset return application procedures is insufficient and urged financial authorities to pursue follow-up legislation to strengthen user protection.

US Senate to Vote on Crypto Market Structure Bill on May 14

According to PANews, investment bank TD Cowen said the US Senate Banking Committee is scheduled to vote on the crypto market structure bill, known as the CLARITY Act, on May 14.

Jaret Seiberg, managing director at TD Cowen, said the vote does not mean the bill will become law immediately, but rather marks the point at which the debate moves to the full Senate. He noted that stablecoin yield, ethics, and conflict-of-interest provisions remain key unresolved issues.

Even if the bill passes the Banking Committee, it must still be merged with legislation from the Senate Agriculture Committee and secure 60 votes on the Senate floor. Seiberg said it will not be easy for Congress to reconcile competing interests among Coinbase and the broader crypto industry, as well as the banking sector.

He added that ethics provisions related to cryptocurrency businesses tied to former President Donald Trump’s family could become a major variable. Seiberg had previously projected that passage of the bill could be delayed until 2027, with final rules potentially not taking effect until 2029.