Data: Since the approval of the Ethereum ETF 19b-4 application, over $3 billion worth of Ethereum has been withdrawn from CEX

ChainCatcher news, according to Cointelegraph, since the U.S. approved the Ethereum ETF 19b-4 application on May 23, the amount of Ethereum on exchanges has decreased by approximately 797,000 coins, equivalent to $3.02 billion. The lower exchange reserve means fewer tokens are available for sale, as investors are moving their tokens to self-custody for purposes other than immediate sale.

BTC-ECHO analyst Leon Waidmann shared Glassnode data showing that the percentage of Ethereum held by exchanges in circulation supply is also at its lowest level in years, at just 10.6%.