KEYTAKEAWAYS
- U.S. Ethereum Spot ETFs See Net Outflow of $3.58 Million in a Single Day
- Ripple Escrow Address Locks 370 Million XRP, Worth Approximately $778 Million
- JPMorgan: 14 Listed Bitcoin Mining Companies See Combined Market Value Shrink by 25% in March
CONTENT
Welcome to CoinRank Daily Data Report. In this column series, CoinRank will provide important daily cryptocurrency data news, allowing readers to quickly understand the latest developments in the cryptocurrency market.
U.S. ETHEREUM SPOT ETFS SEE NET OUTFLOW OF $3.58 MILLION IN A SINGLE DAY
According to the latest data from SoSoValue, the U.S. Ethereum spot ETF market showed an overall capital outflow trend yesterday, with total net outflows reaching $3.5825 million.
- 21Shares ETF CETH became the only product to achieve net inflows for the day, with daily net inflows of $1.7158 million, pushing its historical total net inflows beyond $13.33 million
- Grayscale ETF ETH experienced the largest redemption, with daily net outflows of $2.6997 million, but still maintains a leading position with historical total net inflows of $568 million
- Current Ethereum spot ETFs’ total assets under management (AUM) reached $6.543 billion, accounting for approximately 2.83% of Ethereum’s total market cap
- Historical cumulative net inflows have exceeded $2.412 billion
Analysis:
Although the overall market shows capital outflows, 21Shares CETH’s continued ability to attract funds highlights investor preference for differentiated products. Grayscale ETF’s large-scale redemption may reflect some investors’ tendency to take profits. As U.S. crypto policies become increasingly open, spot ETFs, as important allocation tools for institutional investors, are expected to further expand their assets under management and market share.
RIPPLE ESCROW ADDRESS LOCKS 370 MILLION XRP, WORTH APPROXIMATELY $778 MILLION
According to blockchain monitoring data from Whale Alert, at 11:33 AM Beijing time, a Ripple escrow address newly locked 370 million XRP, worth approximately $778 million at current prices.
Analysis：
This large-scale lockup has once again drawn market attention to XRP’s circulating supply. Today, after XRP’s price dropped to $2.07, it rebounded to $2.12. Ripple’s mechanism of periodically releasing XRP from escrow addresses aims to maintain market stability, but large lockups often affect short-term market expectations.
JPMORGAN: 14 LISTED BITCOIN MINING COMPANIES SEE COMBINED MARKET VALUE SHRINK BY 25% IN MARCH
JPMorgan said in a report on Tuesday that 14 listed mining companies in the sector collectively experienced their worst month on record in March. The Bitcoin miners it tracks, including companies such as MARA and Core Scientific, saw their total market value shrink by 25%, or approximately $6 billion, last month. Companies with high-performance computing businesses “underperformed pure Bitcoin miners for the second consecutive month.”
Additionally, these 14 listed mining companies also performed poorly in February, when their total market value also lost more than 20%, similarly amounting to approximately $6 billion.
Analysis:
JPMorgan’s latest report reveals that the Bitcoin mining industry is facing structural challenges. The significant reduction in miners’ market value for two consecutive months reflects pressure on the mining industry: Bitcoin price volatility directly affects miners’ revenue expectations; energy-intensive business models face the dual squeeze of regulation and costs.
It’s worth noting that mining companies with diversified high-performance computing operations actually underperformed, suggesting that the market favors survival strategies focused on core business.
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